Joint Liability: The legal liability of two or more people for claims against or debts incurred by them jointly. If three people have joint liability and are indebted to another party, they may only be sued as a group and not individually.

 

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Joint Liability: The legal liability of two or more people for claims against or debts incurred by them jointly. If three people have joint liability and are indebted to another party, they may only be sued . . . View Full Definition

Severally But Not Jointly: An agreement between members of an underwriting group buy a new issue (severally), but not to assume joint liability for shares left unsold by other members.

Liability: The debts of a person or company

Jpeg (Joint Photographic Experts Group): JPEG (pronounced 'jay peg') is a graphics format newer than GIF which displays photographs and graphic images with millions of colors, it also compresses well and is easy to download. Unfort . . . View Full Definition

Liability Coverage: Insurance protection against injury and damage claims by third parties, available as option for car rentals.

Liability Funding Strategies: Investment strategies that select assets so that cash flows will equal or exceed the client's obligations.

Liability Swap: An interest rate swap used to alter the cash flow characteristics of an institution's liabilities so as to provide a better match with its assets.

Liability Insurance: Insurance against legal liability to pay compensation and court costs where the insured has been found negligent in respect of injuries sustained by another person or damage to his/her property.

Jointly And Severally: Municipal bond underwriting in which the account is undivided and syndicate members are responsible for unsold bonds in proportion to their participation, regardless of how many bonds they m . . . View Full Definition

Joint-Labor Management Committee: A panel comprised of management and union representatives whose purpose is to address problems, resolve conflicts and build on relationships.