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Simple English definitions for legal terms

accrue

Read a random definition: inevitable accident

A quick definition of accrue:

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.

A more thorough explanation:

Accrue means to accumulate or grow over time. It can refer to:

  • The accumulation of interest, income, or expenses. For example, if you have a savings account, interest will accrue over time, meaning that the amount of money in your account will gradually increase.
  • When a legal claim or cause of action comes into existence. This means that a person has a complete and present reason to take legal action. For example, if someone is injured in a car accident, their legal claim against the other driver will accrue at the time of the accident.

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.

accrual method of accounting | accumulated earnings

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12:34
gotchu
hello friends
13:09
Yo
lawguy we're nearly stats twins :D
13:13
I saw that, and I saw you got the Georgetown interview invite yesterday too! Goodluck!
you too haha, i was super surprised to have received one so early not gonna lie
i heard the group interview is really chill and I'm kinda excited to do it
seems cool
13:14
Yeah, 7sage has a page that talks about the questions for each schools interview, GULC's seems unique
13:15
Idk how much of an effect it has on admissions chances but should be cool either way
ive heard the conversion rate for gulc group interview is pretty high even moreso if you have the stats
it's hard to say but i've also heard that the group interview is harder to get than the alumni interview. but who really knows tbh
im p sure they don't interview everyone and getting one this early should be a great sign!
13:16
Yeah I've heard the same ab the group interview
13:17
So maybe I'll see you in D.C. a year from now lmao
initiallaw
13:32
Speaking of stat twins kazuyamishima were exact stat twins lol
17:13
Anyone going to the UGA zoom thing on the 22nd?
17:16
My bad, 24th*
Idk, what's it for?
@Law-Guy: How'd you get the Vandy fee waiver?
17:32
What does going ur3 in 3 days mean at Uva 😅
that you will get UR2 in 3 more
17:33
somethings gotta give
I’m new. What’s the UR and UR2?
17:35
I already went ur2. It’s the 3rd status date change
17:35
@RustyWrangler: attend one of their virtual info sessions and they'll send you a fee waiver
@Law-Guy: Awesome, thanks! I'll sign up rn!
i'm not entirely sure
They've recently been sending a lot of interview invites
It means status change?
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