What Is a Joint Account? A joint account is a bank or brokerage account shared between two or more individuals. Joint accounts are most likely to be used by relatives, couples, or business partners who have a level of familiarity and trust with each other. A joint account functions like a standard account, such as
What Is a Joint Bond? A joint bond is sold with a guarantee of the payment of principal and interest by at least two parties. In the case of default by the issuer, the bondholders have the right to claim repayment by any and all of the issuing institutions, corporations, or individuals. This shared responsibility reduces
What Is Joint Endorsement? A joint endorsement can be required on a check presented for deposit or cashing that has been made out to two or more individuals. The purpose of the joint endorsement is to prevent one individual from depositing or cashing a check without the knowledge or permission of the other person to whom
What Is a Joint-Life Payout? The term joint-life payout refers to a payment structure for pensions and retirement plans in which a surviving spouse will continue to receive income after the account holder dies. That contrasts with a single-life payout, for which payments end with the death of the account holder. These two payout options
What Does Jointly and Severally Mean? Jointly and severally is a legal term that is used to describe a partnership or any other group of individuals in which each individual named shares responsibility equally. For example, if a judge rules that a number of people are jointly and severally liable for injuries suffered by a
What Is the Joint Return Test? The joint return test is one of the IRS tests that potential dependents must pass in order to be claimed as such by another taxpayer. Important According to the IRS: “You generally can’t claim a married person as a dependent if filing a joint return.” The joint return test stipulates that
What Is a Joint-Stock Company? A joint-stock company is a business owned by its investors, with each investor owning a share of the company based on the amount that they’ve invested. It is a predecessor to the modern-day corporation and other types of registered companies in the U.S. Joint-stock companies were created to finance endeavors
What Is a Joint Venture (JV)? A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. Each of the participants in a JV is responsible for
What Is the Job Openings and Labor Turnover Survey (JOLTS)? The job openings and labor turnover survey (JOLTS) is a monthly report by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor counting job vacancies and separations, including the number of workers voluntarily quitting employment. The BLS surveys more than 20,000 businesses
What Is the Jones Act? The Jones Act is a federal law that regulates maritime commerce in the United States. The Jones Act requires goods shipped between U.S. ports to be transported on ships that are built, owned, and operated by United States citizens or permanent residents. The Jones Act is Section 27 of the
