Accrue Legal Meaning and Definition
Here is a simplified definition of the legal term Accrue.
- To accumulate over time, typically referring to financial gains such as interest on an investment or principal amount.
- To arise or occur, especially as a result of a process or event. For example, the right to take legal action under a contract may only accrue when there has been a breach or rejection of that contract. It does not accrue based on mere suspicion of a potential breach.
Example: In terms of a savings account, the interest will accrue over time, thus increasing the total amount of money in the account. In legal context, the right to sue on a contract may accrue when someone breaches the contract.