ACCRUAL OF OBLIGATION

\ɐkɹˈuːə͡l ɒv ˌɒblɪɡˈe͡ɪʃən], \ɐkɹˈuːə‍l ɒv ˌɒblɪɡˈe‍ɪʃən], \ɐ_k_ɹ_ˈuː_əl ɒ_v ˌɒ_b_l_ɪ_ɡ_ˈeɪ_ʃ_ə_n]\

Definitions of ACCRUAL OF OBLIGATION

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1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

Word of the day

unjust enrichment

  • legal doctrine stating person receives money or other through no effort of his own, at expense another, recipient should return to rightful owner, even if property was not obtained illegally. Most courts will order that the be returned party who has suffered loss brings a lawsuit. 1. Benefit retention with no consideration of return where it can be reasonably expected. 2. Money obtained that is not a gift the beneficiary needs to make restitution for.
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