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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
$14 million--Additional cost for the school, should 10,000 people incur an average amount of expenses battling an identity theft crime
Since a company incurs its obligation for decommissioning costs at the time of initial plant operation, the decommissioning liability is significantly understated, especially in the early years.
Costs an entity incurs to develop or obtain software for its Internet Web site are subject to SOP 98-1, but costs to develop the initial or ongoing Web site content are not specifically addressed in the SOP.
Certain costs an entity incurs in conjunction with start-up activities may relate to the acquisition or manufacture of inventory.
The holding in Woodward also applies to costs incurred by minority shareholders who incur legal fees to appraise their minority stock interest.
In both Situations 1 and 2, the environmental remediation costs N incurs in 2004 do not qualify for treatment under Sec.
The EITF reached a consensus that a commitment by an enterprise's management to execute an exit plan that will incur costs with no future economic benefit (exit costs) is an obligating event for those costs meeting the criteria noted in the commitment date and the eligibility consensuses below.
B incurs costs to (1) remediate the contaminated soil by excavating, transporting, and disposing the contaminated soil, (2) monitor the level of PCBs in the workplace and near the manufacturing operation for a period of years, and (3) repair various pieces of leaking equipment with a series of spot welds to seal the leaks.
195 addresses the costs that most businesses incur before starting initial operations.
Careful planning is necessary when a company incurs expenses to resist a hostile takeover while implementing a friendly acquisition.
2002-80, the IRS concluded that the advanced reimbursements and loans are paid to the employee whether or not he or she actually incurs medical expenses.
If payments are not wages, the employer incurs neither a primary nor a secondary obligation to withhold or pay employment taxes.