When a contract stipulates that each co-debtor is liable for the full amount of the debt, and the creditor can claim the entire debt or any lesser amount from any one or more co-debtors, this situation constitutes joint and several liability. Under this legal concept, each debtor is individually responsible for the entire debt, allowing the creditor to pursue any one co- debtor for the full amount without needing to pursue all co-debtors collectively. Key points about joint and several liability include:

• The creditor can claim the full debt or any portion thereof from any single co-debtor or multiple co-debtors, but cannot recover more than the total debt owed

• If one co-debtor pays the full debt, they have the right to seek contribution from the other co-debtors for their respective shares

• This arrangement provides the creditor with greater security of payment since they can target any co-debtor for the entire amount

• Even if the creditor compromises or partially settles with one co-debtor, the creditor can still pursue the remaining co-debtors for the balance, unless explicitly agreed otherwise

• Joint and several liability means that the debt remains owed by all co-debtors jointly and severally until fully satisfied

In summary, such a contractual provision creates a joint and several liability relationship among co-debtors, enabling creditors to enforce the full debt against any or all co-debtors individually or collectively