Obligarse solidariamente
English translation: assume joint and several obligations
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| 15:03 Aug 18, 2020 |
| Spanish to English translations [PRO] Bus/Financial - Business/Commerce (general) | |||||||
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|  Selected response from: Robert Carter Mexico Local time: 21:59 | ||||||
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| 4 +1 | assume joint and several obligations |
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| 3 +1 | to be jointly and severally liable |
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| Discussion entries: 2 | |
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Answers
5 mins confidence: 
peer agreement (net): +1
peer agreement (net): +1to be jointly and severally liable Explanation: In contract, joint and several liability arises when two or more persons jointly promise in the same contract to do the same thing, but also separately promise to do the same thing. https://uk.practicallaw.thomsonreuters.com/8-200-1391?transitionType=Default&contextData=(sc.Default)&firstPage=true |
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1 day 2 hrs confidence: peer agreement (net): +1
peer agreement (net): +1assume joint and several obligations Explanation: "Otorgar avales" and "obligarse solidariamente" are basically two sides of the same coin in Mexico as both terms refer to guaranteeing an obligation/becoming a guarantor (i.e., assuming a joint and several obligation or becoming a joint and several obligor). You could therefore also word it as "Execute third-party guarantees and act as joint and several obligor..." "Because one of the joint and several obligors may have recourse against the other joint and several obligor under Subsection (b), each party that is jointly and severally liable under Subsection (a) is a secondary obligor in part and a principal obligor in part, as those terms are defined in Section 3-103(a) [55-3-103 NMSA 1978]." https://law.justia.com/codes/new-mexico/2018/chapter-55/arti... "In the event there is more than one pool assembler for any CUSIP #, then all such pool assemblers must execute and deliver the same Undertaking and assume joint and several obligations hereunder" https://www.newyorkfed.org/medialibrary/media/markets/TALF_U... |
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Notes to answerer
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