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 periodicals archive ?
$1,400--Average out-of-pocket expenses a victim incurs after an identity theft crime
The Sixth Circuit Court of Appeals reversed the decision, reasoning that fiduciaries can incur penalties for negligence if they failed to hire an adviser but individuals are not similarly penalized.
One of the key questions addressed in the study is how sensitive start-up costs for a regulation are to the extent of required changes in banks' policies and practices: Do banks that must make extensive changes incur greater costs in proportion to the amount of change?
In order to prevent hostile takeovers, corporations often will incur expenses to redeem shares of their stock.
This change also could result in the violation by some utilities of their debt covenants, causing them to incur additional costs to renegotiate or refinance that debt.
Amounts would be taxable if, under the arrangement, the employee can be paid those amounts regardless Of whether they incur medical expenses.
SOP 98-1 says an entity should expense costs it incurs during the preliminary project stage of software development as incurred.
In reversing, the Sixth Circuit emphasized that individual investors are neither required to consult investment advisers, nor do they incur penalties or potential liability if they act negligently for themselves.
Otherwise, the government may incur substantial costs in studying and implementing changes-- in a veritable vacuum--only to find that the new system is unworkable.
Generally, an expense (for legal fees or otherwise) is "ordinary" if a business person would commonly incur it under the particular circumstances.
Clients may incur significant costs while trying to mitigate damages to their businesses.
Finally, taxpayers may incur liabilities for clean-up costs owing to activities of unrelated parties - for example, as a lessor of property to third parties or as one of many parties jointly and severally liable for cleaning up a multi-party disposal site.