several liability
several liability see liability 2b

Merriam-Webster’s Dictionary of Law. . 1996.

several liability
n.
Liability for something held by every individual involved with some matter, which allows for a separate lawsuit to be brought against each party.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


several liability
When a party is responsible for his or her own obligation (separately from another's liability), so that the plaintiff may bring a separate action against that party without suing other responsible parties. Compare: joint liability
Category: Accidents & Injuries
Category: Small Claims Court & Lawsuits

Nolo’s Plain-English Law Dictionary. . 2009.

several liability
Where co-obligors assume liability and each of them is treated as having assumed liability solely for its own performance. Each will be responsible only for its own failure to perform (and for the loss or damage flowing from its own breach). Where the contract so provides, the liability of each co-obligor may be for an equal share of the whole or for a specified proportion. Proceedings must be brought against individual co-obligors for their share.
+ several liability
USA
Also known as several.
In the case of more than one obligor to an obligation, each obligor is liable for only its portion of the relevant obligation. A typical example of several liability is a syndicated loan agreement where multiple lenders are each liable for only their portion of the loan. If one lender fails to advance its portion of the loan to the borrower, the other lenders in the syndicate have no liability to fund that portion and the borrower can only sue the defaulting lender.
Another example is a stock purchase agreement with more than one seller where the sellers' indemnification obligations may be several, but not joint (joint liability), so that each seller is liable to the buyer only for its proportionate share of the damages (rather than 100%). This generally happens when there are some sellers who own a large percentage of the target company and are actively involved in the target company's operations and some who own a small percentage with a passive involvement.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

several liability
n.
   referring to responsibility of one party for the entire debt (as in "joint and several") or judgment when those who jointly agreed to pay the debt or are jointly ordered to pay a judgment do not do so. A person who is stuck with "several liability" because the others do not pay their part may sue the other joint debtors for contribution toward the payment he/she has made.

Law dictionary. . 2013.

Look at other dictionaries:

  • several liability — The individual liability of two or more persons in reference to claimant s demand. Pruyn v Black, 21 NY 300, 303. See joint and several liability …   Ballentine's law dictionary

  • several liability — See: joint and several liability …   Accounting dictionary

  • several liability — Liability separate and distinct from liability of another to the extent that an independent action may be brought without joinder of others. Exists where each of the parties specifically promises to be individually bound, using language such as… …   Black's law dictionary

  • joint and several liability — see liability 2b Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. joint and several liability …   Law dictionary

  • Joint and several liability — Where two or more persons are liable in respect of the same liability, in most common law legal systems they may either be:* jointly liable, or * severally liable, or * jointly and severally liable.Joint liabilityIf parties have joint liability,… …   Wikipedia

  • joint and several liability — ➔ liability * * * joint and several liability UK US noun [U] ► LAW a situation where each of the people or organizations in a group is responsible, as a group and separately, for paying a debt, paying for damage that has been caused, etc.: »The… …   Financial and business terms

  • Joint And Several Liability — When multiple parties can be held liable for the same event or act and be responsible for all restitution required. In cases of joint and several liability, a person who was harmed or wronged by several parties could be awarded damages and… …   Investment dictionary

  • joint and several liability — The liability of more than one person for which each person may be sued for the entire amount of the damages. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • joint and several liability — (law) The responsibility of any one member of a group for the actions or debts of any or all of the others, and the responsibility of the group as a whole for the actions or debts of any one member • • • Main Entry: ↑join …   Useful english dictionary

  • joint and several liability — The liability of joint tortfeasors. 52 Am J1st Torts § 110. The liability of the two or more contracting parties on one side under an agreement in such terms as to engage the two or more jointly and each one individually. See joint and several… …   Ballentine's law dictionary

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