incur

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Incur

To become subject to and liable for; to have liabilities imposed by act or operation of law.

Expenses are incurred, for example, when the legal obligation to pay them arises. An individual incurs a liability when a money judgment is rendered against him or her by a court.

incur

verb acquire, assume, bargain for, become liible for, become responsible for, bring on, bring upon oneeelf, contract, enter into, expose onself to, fall into, get, lay oneself open to, meet with, run the chance, suscipere, undertake
Associated concepts: claim incurred, incur a debt, incur a liibility, incur an obligation, incurred risk, incurring indebttdness, penalty incurred
References in classic literature ?
To bring about these reforms without too roughly jarring the existing state of things or incurring a Saint-Bartholomew of clerks, Rabourdin considered that an evolution of twenty years would be required.
He had striven to help the unfortunate Harrison at the risk of incurring Wolf Larsen's anger.
Such a "but for" causation test, however, is not apparent from the text's "ordinary, common meaning" The statute demands not a subjective and hypothetical inquiry but, rather, an objective determination of whether the particular cost is one peculiar to trusts and that individuals are incapable of incurring.
Therefore, lenders should try to avoid incurring loan expenses directly, to the extent paid to third parties.
tax by making foreign tax credits available through operation of the Subpart F provisions, Of course, when the gain increases the CFC's accumulated earnings without incurring a foreign tax, it often reduces the foreign tax credit mechanism's effectiveness.
Under the terms of the agreement, Paramount can vest in the AGA by incurring a minimum expenditure of US$3,000,000 over 3 years, with US$1,000,000 in expenditures (including a minimum of 3,000 metres of drilling on 3 properties) per year.
If a taxpayer has a history of incurring a specific expense that is attributable to income earned throughout the year, but is not incurred until the end of the first year or after, for the applicable annualization period, the taxpayer could take into account the expense amount properly allocable to such period (Prop.
Taxpayers are currently incurring expenses in many other areas that we believe warrant public guidance similar to that promulgated Rev.
If Tenant's lease term shall have expired at the time of making of such expenditures or incurring of such obligations, such sums shall be recoverable by Owner, as damages.
V-LIT) who may earn a 50% interest by incurring expenditures of $2,000,000 over three years, issuing 500,000 shares of LIT (issued), and making cash payments of $100,000 ($70,000 paid).
It is not critical to inquire whether a taxpayer really had to incur a particular expense, such as paying an employee's or agent's legal fees, if incurring such an expense was "appropriate or helpful.