HopefullyInLawSchool
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LSDefine
Simple English definitions for legal terms
solidary
Read a random definition: ENTREPRENEURIAL RIGHTS
A quick definition of solidary:
Solidary: When two or more people owe the same thing to the same person, and each person can be made to pay the whole amount, it is called a solidary obligation. This means that if one person pays the debt, both are considered to have paid it. It's like sharing a pizza, but each person is responsible for paying for the whole pizza if needed.
A more thorough explanation:
Solidary means that a liability or obligation is joint and several. This means that each person involved is responsible for the entire debt or obligation, not just a portion of it. Once the debt is paid by one person, all parties are released from the obligation.
- Two friends take out a loan together. The loan is solidary, meaning that if one friend cannot pay their share, the other friend is responsible for the entire debt.
- A group of business partners sign a lease for a commercial property. The lease is solidary, meaning that if one partner cannot pay their share of the rent, the other partners are responsible for the entire amount.
These examples illustrate how solidary obligations work. Each person involved is responsible for the entire debt or obligation, not just a portion of it. This can be risky, as one person's inability to pay can leave the others with the full burden of the debt.