Glossary of Terms
Bankruptcy / Proposal / Financial Glossary |
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| There are 4 entries in the glossary. | |
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| Term | Definition |
| 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. With joint and several liability each party is 100% responsible for 100% of the debt. |
| joint assignment | Paragraph 155(f) of the Act, provides that in circumstances specified in directives of the Superintendent, the estates of individuals who, because of their relationship, could be reasonably be dealt with as one estate may be dealt with as one estate. |
| joint tenancy | The situation where two or more persons are equally owners of a property. |
| judgement | A formal decision given by a Court; sentence or Order of a Court of Justice. |
| Glossary V2.0 | |