what is the legal terms of "and" "or" ?

Question

i am a co signer on a car that i now have becuse they were unable to make payments the paper reads me OR the other person. I know that i am responsable to make payments but can i sell the car with out the others signing off on it?

Answer 1

Whoever has title to the car can sell it. The liability for the loan is something else. In many cases the bank retains title until the loan is paid off, in which case you cannot sell it until then.

"and" means all of a series, such as A and B taken together, and A and B have to do a thing jointly, together. A cannot do it without B and vice versa.

"or " means any ONE of a series, in the case of A or B, either A can do it separately from B, or B can do it separately from A. A can do it without B and B can do it without A.

Answer 2

freedomhammer covered everything quite well. The name or names on the title are what matter for sales. Even if the bank does not physically retain the title, they will record their lien with the agency that records titles. The title cannot be transferred until the lien is released. This will require full payment on the loan.

Regardless of the 'and/or' wording of the loan, the bank can usually go after any or all of the people named on the loan. As long as they get there money, the bank doesn't care how pays.

freedomhammer's definitions of 'and' & 'or' are corrent.

Answer 3

Get posession of the car and have them sign thier interest over to you...and ...never do it again