Joint

What is ‘Joint’

A legal term describing a transaction or agreement where two or more parties act in unison.

Explaining ‘Joint’

In addition to pertaining to accounts or ownership in real property, joint can also refer to liability. Joint liability exists in situations where two or more people share the burden of a debt. For example, if a husband and wife have joint liability for a debt, each is responsible for the entire amount of the debt. Several liability, on the other hand, would limit liability to each person’s respective obligations.

Further Reading