accrue

(redirected from accrues)
Also found in: Dictionary, Thesaurus, Financial.
Related to accrues: accruable

Accrue

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.

To attach itself to, as a subordinate or accessory claim or demand arises out of, and is joined to, its principal.

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." To become a present right or demand; to come to pass.

Interest on money that a depositor has in a bank savings account accrues, so that after a certain time the amount will be increased by the amount of interest it has earned.

A Cause of Action, the facts that give a person a right to judicial relief, usually accrues on the date that the injury to the plaintiff is sustained. When the injury is not readily discoverable, the cause of action accrues when the plaintiff in fact discovers the injury. This occurs frequently in cases of Fraud or Malpractice. A woman, for example, has an appendectomy. Three years after the surgery, she still experiences dull pain on her right side. She is examined by another physician who discovers a piece of surgical sponge near the area of the operation. Although the injury had occurred at the time of surgery three years earlier, in this case the cause of action for Medical Malpractice accrues on the date that the sponge is discovered by the second doctor. This distinction is important for purposes of the running of the Statute of Limitations, the time set by law within which a lawsuit must be commenced after a cause of action accrues. In cases involving injuries that cannot be readily discovered, it would be unfair to bar a plaintiff from bringing a lawsuit because he or she does not start the suit within the required time from the date of injury.

accrue

v. 1) growing or adding to, such as interest on a debt or investment which continues to accumulate. 2) the coming into being of the right to bring a lawsuit. For example, the right to sue on a contract only accrues when the contract is breached (not mere suspicion that it might be breached) or when the other party repudiates the contract (anticipatory breach).

accrue

(Arise), verb acquire, be derived, become due, become enforceable, become present, come, emanate, ensue, eventuate, fall due, flow, follow, inure, issue, mature, occur, originate, proceed, progress, result from, rise from, spring, yield
Associated concepts: accrual accounting method, accrual of a cause of action, accrued benefit, accrued claims against a municipal corporation, accrued debt, accrued rights, statute of limitations, tolls
Foreign phrases: Confirmare nemo potest prius quam jus ei acciderit.No one can confirm a right before the right accrues to him.

accrue

(Increase), verb accumulate, acquire, add on, advance, aggrandize, amass, amplify, annex, appreciate, augment, become added, become greater, become larger, branch out, broaden, build, build up, collect, enlarge, expand, extend, further, gain, gather, greaten, grow, heighten, improve, intensify, mount, multiply, raise, supplement, swell, widen
Associated concepts: accrual accounting method, accrual of compensation, accrual of taxes, accrued basis, accrued costs, accrued dividend, accrued earnings, accrued income, accrued interest, accrued overtime, accrued taxes
See also: accumulate, arise, bear, compound, develop, enlarge, hoard, increase, mature, originate, redound, result, yield

accrue

(of a right or demand) to become capable of being enforced.

TO ACCRUE. Literally to grow to; as the interest accrues on the principal. Accruing costs are those which become due and are created after judgment of an execution.
     2.-To accrue means also to arise, to happen, to come to pass; as the statute of limitations does not commence running until the cause of action has accrued. 1 Bouv. Inst. n. 861; 2 Rawle, 277; 10 Watts, 363; Bac. Abr. Limitation of Actions, D 3.

References in periodicals archive ?
Generally, when the taxpayer receives income, it must accrue that amount, unless the receipt is subject to substantial limits or restrictions or is a deposit or loan.
Whether the fact that the dispute did not arise until the year after the sale year affects the taxpayer's obligation to accrue the income in the tax year of sale (based on the tax-year concept of accounting);
For federal income tax purposes the California franchise tax continues to accrue in the California tax year.
461-1(a)(2), the taxpayer should properly accrue and deduct the gross receipts tax imposed by the State of Maryland in the calendar year following the end of the income year.
Holders of a contingent convertible debt instrument, however, must accrue OID into income at the higher yield without receiving cash payments, regardless of their accounting method.
W accrues $4,500 of gross sales and includes $4,500 (less the corresponding cost of goods sold) in gross income in 2003, when W and Y settle their dispute.
It was this penalty interest that the taxpayer sought to accrue, and which the IRS disallowed.
1991, a taxpayer was held to the contract terms of a loan document and was required to accrue interest when the taxpayer did not formally declare the notes to be in default.
Interest accrues between the date of the overpayment and the date the tax is credited or refunded (with a 30-day window for refund checks).
Example 2: XYZ, an accrual-basis partnership, accrues an otherwise deductible expense to A Corporation, a cash-basis C corporation.
Some of these arrangements also provide for "interest" to accrue on the amounts deferred until the benefits are paid to the participants.
1272 provides for the current inclusion of OID in income as it accrues regardless of a holder's method of accounting.