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Home page Credit management advice The A to Z glossary of credit keywords

The A to Z Glossary of Credit Keywords

There are 166 entries in this glossary.
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J

Term Definition
Joint and several

When two or more persons declare themselves jointly and severally bound they make themselves liable to a separate and individual action as well as joint action in the event of default. If one person is pursued for the whole debt he can claim a contribution from the others.

Joint venture

A partnership set up between two or more companies, usually joining specific areas of their activities together, and usually to enhance their capabilities and competitiveness in particular areas or markets or to undertake a specific project.

Joint-stock company

This is a company that is quoted on the Stock Exchange and whose shares are owned by members of the public.

Judgment

An abbreviation for County Court Judgment. A concern or person may take another to Court for non-payment of debt, and judgment will be given in many cases against the claimant (the party bringing the action). A County Court Judgment is given for a particular amount, which may be for all or part of the original claim. In England and Wales, the County Courts are used for many of these cases.

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