Joint & Several Liability

Joint and several liability is where two people enter into a credit agreement and both are responsible for repaying the whole amount borrowed, rather than just half each.

Joint Life 2nd Death Policy

Joint life second death policy is a type of life insurance that only pays out on the death of the second policy holder.

Judgment

Order of the Court in a civil or criminal proceeding.

Judgment Creditor

A creditor who has a judgment and who can enforce execution under the judgment as a result of the Court's decision.

Judgment Debt

A debt that is owed as a result of a court judgment, or a court order.

Judgment In Default

A court judgment made against someone who did not turn up in court, or did not file a defence.

Judicial Review

A legal procedure which can be used to challenge a judge's decision or a policy of a public body such as local councils. A judicial review challenges the way a decision has been made rather than the decision itself. A judicial review can overturn the original decision and make the decision maker look at it again.