joint and several note

A note for which multiple makers are jointly and severally liable for repayment, meaning that the payee may legally look to all the makers, or any one of them, for payment of the entire debt. See joint and several liability under LIABILITY. [Cases: Bills and Notes 120. C.J.S. Bills and Notes; Letters of Credit§§ 81, 83, 249.]

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词条贡献者

译者Vicky，毕业于世界顶级翻译学院，擅长翻译各种与债权人权利及破产诉讼相关的法律文件。