ühisvastutusel

Ühisvastutusel is an Estonian legal term that translates to "jointly and severally liable" or "joint liability" in English. It refers to a situation where two or more parties are held responsible for the same debt or obligation. This means that a creditor can pursue any one of the jointly liable parties for the entire amount owed, or they can pursue all of them simultaneously or in sequence. The choice of whom to pursue typically rests with the creditor.

This form of liability is commonly found in contracts, loan agreements, and certain legal obligations. For example, if several individuals co-sign a loan, they are often jointly and severally liable for the repayment of that loan. If one co-signer defaults, the lender can demand the full outstanding amount from any of the other co-signers.

The principle behind ühisvastutusel is to provide greater security to the creditor. By having multiple parties responsible, the likelihood of the debt being repaid is increased. Once one party has paid the full amount, they may have the right to seek a contribution from the other jointly liable parties for their respective shares, depending on the specific agreement or legal framework. This right to seek contribution is known as recourse. The concept of ühisvastutusel is a crucial aspect of contract law and debt recovery in Estonia.