What is a contract in which two or more people individually agree to perform the same obligation called?

A contract in which two or more people individually agree to perform the same obligation is known as a several contract. In this type of arrangement, each party is accountable for their own share of the obligation, and the performance of one party does not affect the others. This means that if one party fails to fulfill their part of the agreement, the others are still responsible for their commitments.

Understanding this concept is essential in various situations, especially when multiple parties are involved in a contract. Several contracts highlight the individual responsibilities of each party, which can provide clarity and ensure that accountability is maintained within contractual agreements. This individual liability aspect is important for enforcing rights and obligations in legal contexts.

The term "joint contract" refers to agreements where all parties are collectively responsible for fulfilling the entire obligation, which differs significantly from the individual responsibilities seen in several contracts. A "collective contract" is not a standard legal term commonly recognized in contractual law, and a "severable contract" refers to agreements that can be divided into separate obligations rather than multiple parties each having their individual obligations to fulfill.