accrue

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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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

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).

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

accrue

(of a right or demand) to become capable of being enforced.
Collins Dictionary of Law © W.J. Stewart, 2006

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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
In determining how much market discount has accrued up to the time of sale, the discount is treated as accruing in equal amounts each day after the date of acquisition up to and including the date of maturity.
For purposes of accruing deductions, taxpayers must also meet economic performance rules.
If an individual files an income tax return by its due date, including extensions, the IRS must suspend accruing interest and certain penalties if it does not notify the taxpayer--specifically stating the taxpayer's liability and its basis--before the close of the 18-month period beginning on the later of the return's filing date or its due date, excluding extensions.
While total classified commitments fell sharply, the portion of outstanding classified loans not accruing interest fell at a slower rate (41 percent), to $30.1 billion.
Using the conventional approach, they estimated that implementing BACT would result in 210 fewer deaths per year in the target area, with approximately 25% of the benefits accruing to individuals with less than a high school education.
Accruing, retaining, and following 6000 patients for as long as 8 years is no small task.
However, where the vendor is not required to collect tax, the purchaser is responsible for accruing the appropriate tax and remitting it to the state.
Although many actions were performed after the trade date, they were regarded as administrative and so did not preclude the commission from accruing. By branding these actions as administrative, they were relegated to the category of "conditions subsequent," meaning they were not important elements of the earning process.
However, the money in your life insurance policy is continually accruing a market interest rate of 4%, so your net interest cost would be 2%.
As the real estate industry continues to suffer, it has become more and more common for lenders to seek payment under these interest guaranties for interest accruing both before and after the stated maturity of -- and after a default with respect to -- the underlying loan.
If, instead of accruing the $800,000, the company had recorded a prepaid pension asset of $200,000, the liability would be $3 million.
But where the amount received on a flat sale or on redemption is less than the entire amount due (principal and interest), the amount recovered is allocated between principal and interest accruing while the seller held the bond under this formula: (3)