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LSDefine

Simple English definitions for legal terms

accrue

Read a random definition: primer

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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14:48
Substatus?
14:48
i cant get into my penn rn so im just assuming
14:48
same @Eggan
cumsock
14:49
carole baskin sold all her land
14:49
If it says under committee review I’m still alive right
cumsock
14:49
for 20 million fuckin dollars
Trismegistus
14:49
that's what mine saying @sadpadresfan
14:50
ya im on the plane so it wont let me log into lsac for some readon
14:50
for another 2 hours
lilypadfrog
14:50
im out here in miamiiiii
14:50
Whoa someone got Penn WL but Harvard A earlier what the heck
Trismegistus
14:50
happens all the time
14:51
I stg every time I see you that Jorge Ben song starts playing in my head again
Trismegistus
14:51
LOL
jackfrost11770
14:53
Egg not necessarily, I didn't get an email. It just says waitlist in application status which is mad annoying lol. At least tell us what you want like a LOCI or anything
14:54
i cannot get into my portal
14:54
i will not know
14:54
delta have better wifi challenge
cumsock
14:55
i dont think william and mary is sending me that interview invite
cumsock
14:55
am i thAT shit
maybe theyre scared of cum
lilypadfrog
14:55
they don’t deserve you if they’re scared of cum
GodsPlanUltimately
14:55
Hello /ᐠ - ˕ -マ Ⳋ Hopefully it is warmer where everyone else is
@lilypadfrog: there is a reddit for that fear
i agree froggy
texaslawhopefully
14:56
I can't believe my last 5 decisions now have either been R's or WL's
im literally freezing god
texaslawhopefully
14:56
I might be here next cycle fuck
Trismegistus
14:57
me fuckin too buddy
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