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单词 joint account
释义

joint account

joint account A bank or building-society account held in the names or two or more people, often husband and wife. On the death of one party the balance in the account goes to the survivor(s), except in the case of partnerships, executors’ accounts, or trustees’ accounts. Normally, any of the holders of a joint account is entitled to operate it alone.

joint and several liability A liability that is entered into as a group, on the understanding that if any of the group fail in their undertaking the liability must be shared by the remainder. Thus if two people enter into a joint and several guarantee for a bank loan, if one becomes bankrupt the other is liable for repayment of the whole loan.

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更新时间:2025/1/22 18:50:58