What is Joint liability?

Whenever a contract is made between two or more parties then they share a joint liability, this goes the same with loans and other things. The law states that if a loan has been taken out with or with out the prior knowledge of all parties, they are binned together jointly. By taking responsibility jointly this means that partners can protect them selves against creditors and lawsuits all together. General partnership implies that any of the partners asking for a loan every member would be considered as co-borrower.