liability in solido

Definition of "liability in solido"
  1. An obligation shared by multiple parties, where each party is individually responsible for the full amount of the obligation
How to use "liability in solido" in a sentence
  1. When a loan agreement includes liability in solido, any single borrower can be held responsible for repaying the full amount of the loan.
  2. In situations with liability in solido, one individual might end up paying for the entire debt, even if multiple people were originally involved.
  3. Liability in solido represents a severe level of commitment for each party in a contract, as any one of them can be held responsible for the entire obligation.

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