Simple English definitions for legal terms
Read a random definition: admiralitas
Accrue: When you earn or collect money over time, or when you have a legal right to ask for something because of something that happened. For example, if you have a job and get paid every week, your money will accrue over time. Or, if someone hurts you and you have a right to ask for money to make it better, your claim will accrue when the hurt happens.
Accrue means to accumulate or grow over time. It can refer to:
Accrual is often important in legal contexts, such as when determining the statute of limitations for a claim. For example, in California, a claim for injury or property damage must be presented within six months of the accrual of the cause of action.
In bankruptcy cases, the court must determine whether a debtor's claim has accrued, which would make it an asset of the debtor's estate. This means that if a person is owed money at the time they file for bankruptcy, that money may be used to pay off their debts.