accrue


accrue
/akruw/
Derived from the Latin, "ad" and "creso," to grow to.
In past tense, in sense of due and payable; vested. It means to increase; to augment; to come to by way of increase; to be added as an increase, profit, or damage. Acquired; falling due; made or executed; matured; occurred; received; vested; was created; was incurred. H. Liebes & Co. v. Commissioner of Internal Revenue, C.C.A.9, 90 F.2d 932, 936.
To attach itself to, as a subordinate or accessory claim or demand arises out of, and is joined to, its principal. Lifson v. Commissioner of Internal Revenue, C.C.A.8, 98 F.2d 508.
The term is also used of independent or original demands, meaning to arise, to happen, to come into force or existence; to vest, as in the phrase, "The right of action did not accrue within six years." Amy v. Dubuque, 98 U.S. 470, 476, 25 L.Ed. 228.
To become a present right or demand; to come to pass.
See also vested.
Cause of action.
A cause of action "accrues" when a suit may be maintained thereon, and the law in this regard differs from state-to-state and by nature of action (e.g. type of breach of contract, tort, etc.). Dillon v. Board of Pension Com'rs of City of Los Angeles, 18 Cal.2d 427, 116 P.2d 37, 39.
For example, cause of action might "accrue" on date that damage is sustained and not date when causes are set in motion which ultimately produce injury, City of Philadelphia v. Lieberman, C.C.A.Pa., 112 F.2d 424, 428; on date of injury, Fredericks v. Town of Dover, 125 N.J.L. 288, 15 A.2d 784, 787;
when actual damage has resulted, National Lead Co. v. City of New York, C.C.A.N.Y., 43 F.2d 914, 916;
as soon as contract is breached, Wichita Nat. Bank v. United States Fidelity & Guaranty Co., Tex.Civ.App., 147 S.W.2d 295, 297;
in legal malpractice action, when the client knows or should know of attorneys error, Hendrickson v. Sears, 365 Mass. 83, 310 N.E.2d 131.
The point in time at which a cause of action "accrues" is important for purposes of running of statute of limitations.
Taxation.
Income "accrues" to taxpayer when there arises to him a fixed or unconditional right to receive it. Franklin County Distilling Co. v. Commissioner of Internal Revenue, C.C.A.6, 125 F.2d 800, 804, 805.
But not unless there is a reasonable expectancy that the right will be converted into money or its equivalent. Swastika Oil & Gas Co. v. Commissioner of Internal Revenue, C.C.A.6, 123 F.2d 382, 384.
Where taxpayer makes returns on accrual basis, item "accrues" when all events occur which fix amount payable and determine liability of taxpayer. Hudson Motor Car Co. v. U. S., Ct.Cl., 3 F.Supp. 834, 847. Tax "accrues" for deduction when all events have occurred which fix amount of tax and determine liability of taxpayer for it, although there has not yet been assessment or maturity. Elmhirst v. Duggan, D.C.N.Y., 14 F.Supp. 782, 784
- accrued expense
- accrued income
- accrued interest
- accrued liability

Black's law dictionary. . 1990.

Synonyms:

Look at other dictionaries:

  • accrue — ac·crue /ə krü/ vb ac·crued, ac·cru·ing [Middle French accreue increase, addition to a property, from feminine of accreu, past participle of acreistre to increase] vi 1: to come into existence as an enforceable claim: vest as a right… …   Law dictionary

  • accrue — ac‧crue [əˈkruː] verb [intransitive, transitive] formal ACCOUNTING 1. if an amount of money accrues, or is accrued, it gradually increases over a period of time: • The tax falls due at the end of the month, and interest will accrue from that date …   Financial and business terms

  • Accrue — Ac*crue ([a^]k*kr[udd] ), v. i. [imp. & p. p. {Accrued}; p. pr. & vb. n. {Accruing}.] [See {Accrue}, n., and cf. {Accresce}, {Accrete}.] 1. To increase; to augment. [1913 Webster] And though power failed, her courage did accrue. Spenser. [1913… …   The Collaborative International Dictionary of English

  • accrue — [ akry ] n. f. • 1246; de accroître 1 ♦ Augmentation de surface par le retrait des eaux. ⇒ accession, accroissement, atterrissement, laisse. 2 ♦ Extension d un bois par rejets naturels. ● accrue nom féminin (de accroître) Maille supplémentaire qu …   Encyclopédie Universelle

  • accrue — [ə kro͞o′] vi. accrued, accruing [ME acreuen < OFr acreu, pp. of acroistre, increase < L accrescere: see ACCRETION] 1. to come as a natural growth, advantage, or right (to) 2. to be added periodically as an increase: said esp. of interest… …   English World dictionary

  • Accrue — Ac*crue , n. [F. accr[^u], OF. acre[ u], p. p. of accroitre, OF. acroistre to increase; L. ad + crescere to increase. Cf. {Accretion}, {Crew}. See {Crescent}.] Something that accrues; advantage accruing. [Obs.] [1913 Webster] …   The Collaborative International Dictionary of English

  • accrue — (v.) mid 15c., from O.Fr. acreue growth, increase, what has grown, fem. of acreu, pp. of acreistre (Mod.Fr. accroître) to increase, from L. accrescere (see ACCRETION (Cf. accretion)). Related: Accrued; accruing …   Etymology dictionary

  • accrue — [v] increase by addition or growth, often financial accumulate, amass, build up, collect, enlarge, flow, gather, grow, increase; concepts 763,780 Ant. decrease, lose …   New thesaurus

  • accrue — ► VERB (accrues, accrued, accruing) 1) (of a benefit or sum of money) be received in regular or increasing amounts. 2) accumulate or receive (payments or benefits). DERIVATIVES accrual noun. ORIGIN Old French acreistre in …   English terms dictionary

  • accrue — ac|crue [əˈkru:] v [I and T] [Date: 1400 1500; Origin: Probably from Old French acreue increase , from acreistre to increase , from Latin accrescere; ACCRETION] 1.) if advantages accrue to you, you get those advantages over a period of time… …   Dictionary of contemporary English

  • accrue — [[t]əkru͟ː[/t]] accrues, accruing, accrued 1) V ERG If money or interest accrues, it gradually increases in amount over a period of time. [TECHNICAL] [V ed] I owed ₤5,000 part of this was accrued interest... While they may use a credit card for… …   English dictionary


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.