What is the meaning of a Joint Promise in legal terms?

In legal terms, a Joint Promise refers to a commitment made by multiple parties working together toward a common objective. This type of promise implies that all parties involved have agreed to undertake specific actions or fulfill certain obligations as part of their collective agreement. Each party is equally responsible for fulfilling the promise, and the performance of the promise is often interdependent among them.

The essence of a Joint Promise is that it emphasizes collaboration and mutual responsibility, thereby creating a binding obligation that can be enforced if any party fails to meet their agreed-upon duties. In contrast, a single promise made by one party does not involve joint accountability, nor do promises made with conditions or in secrecy inherently encompass the collaborative element that defines a Joint Promise.