A note signed by both "A" and "B" on which they have joint and several liability means that "A" is responsible for one-half of the note and "B" is responsible for one-half of the note.

Name: A note signed by both "A" and "B" on which they have joint and several liability means that "A" is responsible for one-half of the note and "B" is responsible for one-half of the note.
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Question

Quizplus · Accepted Answer

Joint and several liability means that each party is individually responsible for the entire obligation, not just a portion of it.

A Note Signed by Both "A" and "B" on Which