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n. 1) donation to a charity or political campaign. 2) the sharing of a loss by each of several persons who may have been jointly responsible for injury to a third party, who entered into a business which lost money or who owe a debt jointly. Quite often this arises when one responsible party pays more than his share and then demands contribution from the others in proportion to their share of the obligation.
n.) Payment, by each of several jointly liable, of a share in a loss suffered or an amount paid by one of their number for the common benefit.

Revision as of 10:05, 27 May 2024

n.) Payment, by each of several jointly liable, of a share in a loss suffered or an amount paid by one of their number for the common benefit.