Common use of Joint Ownership; Power and Authority Clause in Contracts

Joint Ownership; Power and Authority. a. If this is a joint Account, unless you notify Aspiration otherwise and provide such documentation as we require, your Account shall be held by you jointly with rights of survivorship, except where prohibited by applicable laws. Each owner of a joint account is jointly and severally liable for any obligations or liabilities resulting from one Account owner’s actions. This means, among other things, that we may enforce this agreement against all Account owners or against any owner individually. You are responsible for verifying that the joint ownership is valid in your state b. If your Account is a joint account with two or more owners, each joint owner agrees that each joint owner will have authority to act on behalf of all of the joint owners and to deal with us as fully and completely as if each was the sole owner of the Account, all without notice to the other joint owner(s). Notwithstanding the foregoing, each joint owner agrees that we may (i) require joint instruction from some or all of the joint owners before taking action under this Agreement; and (ii) if we receives instructions from any joint owner that are in conflict with instructions received from any other joint owner, comply with any of these instructions and/or advise each joint action as to any of these instructions until we receive instructions from any or all of the joint owners that are satisfactory to us. Notice provided by us to any joint owner will be deemed notice to all joint owners. Each joint owner will be jointly and severally liable for the Account.