Legal Definitions - arere

The term arere is an adjective used to describe a situation where a payment or obligation is overdue. It indicates that an individual or entity has fallen behind on a scheduled financial commitment and is therefore in arrears.

• Example 1: A small manufacturing company, "InnovateTech," had a 30-day payment term with its raw material supplier, "PrimeMetals." Due to an unexpected dip in sales, InnovateTech was unable to pay PrimeMetals for a large shipment by the agreed-upon date. In this situation, InnovateTech's payment to PrimeMetals was arere, meaning it was overdue.

• Example 2: Sarah purchased a new car with a monthly loan payment due on the first of each month. One month, due to an unforeseen medical emergency, she was unable to make her car payment by the due date. Her car loan payment was then considered arere until she could submit the outstanding amount.

• Example 3: Following a divorce, Mark was legally obligated to pay child support to his ex-spouse for their children by the 15th of each month. If Mark failed to send the payment by that date, his child support obligation would be deemed arere, potentially leading to legal consequences for non-payment.