Pro rata

Latin term meaning proportionally; for a proportion.

Where several debtors are each liable for the whole debt, they are said to be liable "in solidum" but where each is liable for his own share or proportion only, they are said to be bound "pro rata". An example of both phrases may be found in the liabilty of partners; each is liable "in solidum" for the debts of the partnership in relation to creditors, but each is liable only "pro rata" in relation to between themselves.


T&Cs Documents by Trade
Documents by Section
News and Information