Solidary Obligation Law and Legal Definition
Solidary obligation refers to a legal relationship where one or more of several debtors are each liable to pay the entire amount, or one or more of several creditors each able to collect the whole. In short, it’s an obligation under which any of two or more obligors can be held liable for the entire performance like payment of a debt. Solidary obligation is similar to joint and several liability in common law.
Legal Definition list
Related Legal Terms
- Alternative Obligation
- Bargaining Obligation Dispute [Administrative Personnel]
- Collateralized Mortgage Obligation
- Covered Clearing Obligation
- Covered Contractual Payment Obligation
- Delictal Obligations
- Direct Loan Obligation
- Doctrine of Obligation
- Domestic Support Obligation ( Bankruptcy)
- Eligible Obligation
