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Legal Definitions - increase
Definition of increase
An increase refers to a growth, enlargement, or addition in quantity, value, size, or scope.
Example 1: After a new commercial development was approved nearby, a homeowner noticed a significant increase in the market value of their property.
Explanation: This illustrates an increase in the financial value of an asset, specifically the property's worth.
Example 2: Due to a surge in customer demand, the manufacturing company announced an increase in its production capacity and hired more staff.
Explanation: This demonstrates an increase in both the quantity of goods the company can produce and the number of employees on its payroll.
Example 3: Following a review of the company's financial performance, the court ordered an increase in the monthly child support payments owed by the executive.
Explanation: Here, "increase" refers to an enlargement of a legal obligation, specifically the amount of financial support required to be paid.
Simple Definition
In legal contexts, "increase" primarily refers to the growth, enlargement, or addition to something. This term describes the extent to which an asset, liability, right, or obligation has become greater in size, amount, or scope.