What is a contract called when it can be considered as a joint obligation or a collection of individual obligations?

A contract that can be considered as a joint obligation or a collection of individual obligations is referred to as a joint and several contract. In these types of contracts, each party is individually liable for the entire obligation, but creditors can also pursue them collectively. This means that if one party fails to fulfill their part of the contract, the other parties are still responsible for ensuring that the obligation is met. This structure provides protection for the party seeking fulfillment of the contract, allowing them to seek payment or performance from any individual party involved.

In contrast, an implied contract arises from actions or circumstances rather than direct verbal or written agreements, while a unilateral contract involves a promise made by only one party, with the other side not providing a reciprocal promise. An express contract is one that is clearly stated, either in writing or verbally, and does not inherently carry the connotation of joint obligation that the term "joint and several" implies. Thus, the concept of joint and several liability is essential in understanding how responsibilities are distributed among the parties in such a contract.