Incur definition: Copy, customize, and use instantly
Introduction
The term "Incur" refers to the act of becoming subject to or liable for a debt, obligation, expense, or liability, typically as a result of an action, agreement, or event. It is commonly used in legal and contractual contexts to define when an obligation arises or a cost is assumed. This term is essential for delineating responsibilities, identifying the point at which liabilities are recognized, and ensuring clarity in financial and legal agreements.
Below are various examples of how "Incur" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Incur" as assuming a financial obligation
This definition ties "Incur" to financial liabilities.
"Incur" means to become subject to or liable for a financial obligation, debt, or expense, whether directly or indirectly, as a result of an agreement, transaction, or action.
Definition of "Incur" as recognizing a liability
This definition connects "Incur" to liability recognition.
"Incur" refers to the act of assuming or becoming liable for an obligation, liability, or expense, regardless of whether payment or performance is due immediately or in the future.
Definition of "Incur" as an action-triggered obligation
This definition links "Incur" to obligations arising from actions.
"Incur" means to create, accept, or become liable for an obligation, expense, or liability as a result of an act, transaction, or occurrence.
Definition of "Incur" as taking on a contingent liability
This definition applies "Incur" to contingent liabilities.
"Incur" refers to the act of assuming a liability or obligation that is conditional or contingent upon the occurrence of a specified event.
Definition of "Incur" as entering into a financial commitment
This definition ties "Incur" to commitments.
"Incur" means to enter into an agreement or arrangement that creates a financial commitment, obligation, or liability for which the party is responsible.
Definition of "Incur" as accruing an expense
This definition connects "Incur" to accruing costs.
"Incur" refers to the act of accruing an expense, charge, or liability due to actions, agreements, or ongoing business operations.
Definition of "Incur" as accepting contractual liability
This definition links "Incur" to liability under contracts.
"Incur" means to assume or accept liability or responsibility for an obligation or expense under the terms of a contract or agreement.
Definition of "Incur" as becoming subject to legal obligations
This definition applies "Incur" to legal obligations.
"Incur" refers to the act of becoming legally obligated to pay or perform as a result of a statute, agreement, or legal act.
Definition of "Incur" as arising from operational activities
This definition ties "Incur" to business operations.
"Incur" means to generate or assume an expense, cost, or liability as a result of conducting business operations or transactions.
Definition of "Incur" as an unavoidable consequence
This definition connects "Incur" to automatic liabilities.
"Incur" refers to the act of becoming responsible for a cost, obligation, or liability that arises as an unavoidable consequence of an action or event.
Definition of "Incur" as creating an enforceable obligation
This definition links "Incur" to enforceability.
"Incur" means to take on or become subject to an obligation, liability, or expense that is legally enforceable by another party.
Definition of "Incur" as recognizing a debt at maturity
This definition applies "Incur" to debts arising upon maturity.
"Incur" refers to the act of recognizing a debt, obligation, or liability that becomes due or enforceable at a specified maturity date or event.
Definition of "Incur" as voluntarily accepting liability
This definition ties "Incur" to voluntary actions.
"Incur" means to voluntarily assume or accept responsibility for an obligation, expense, or liability through agreement or action.
Definition of "Incur" as resulting from contractual default
This definition connects "Incur" to defaults.
"Incur" refers to the act of becoming liable for penalties, costs, or damages as a result of a breach or default under the terms of a contract.
Definition of "Incur" as a consequence of borrowing
This definition links "Incur" to loans and credit.
"Incur" means to assume liability or debt by borrowing funds, issuing guarantees, or entering into financing arrangements.
Definition of "Incur" as a result of financial transactions
This definition ties "Incur" to financial dealings.
"Incur" means to become liable for or obligated to pay an expense, debt, or financial obligation as a direct result of a financial transaction or activity.
Definition of "Incur" as creating a future obligation
This definition connects "Incur" to obligations arising over time.
"Incur" refers to the act of creating or accepting a liability, obligation, or expense that becomes payable or enforceable at a future date.
Definition of "Incur" as accepting responsibility for damages
This definition links "Incur" to liabilities for damages.
"Incur" means to assume responsibility for costs, damages, or losses resulting from actions, events, or breaches of contractual or legal obligations.
Definition of "Incur" as arising from contractual duties
This definition applies "Incur" to contractually defined liabilities.
"Incur" refers to the act of becoming obligated to fulfill a liability or payment as stipulated by the terms of a contract or agreement.
Definition of "Incur" as assuming liability under guarantees
This definition ties "Incur" to guarantees or indemnities.
"Incur" means to assume liability or financial responsibility under a guarantee, indemnity, or other agreement providing assurance or security to a third party.
Definition of "Incur" as arising from operational losses
This definition connects "Incur" to business-related losses.
"Incur" refers to the act of becoming responsible for losses, deficits, or unexpected costs resulting from operational activities or business decisions.
Definition of "Incur" as accruing contingent liabilities
This definition links "Incur" to potential future liabilities.
"Incur" means to accrue or recognize a contingent liability, obligation, or expense that may become enforceable based on the occurrence of a future event.
Definition of "Incur" as generating an expense obligation
This definition applies "Incur" to expense creation.
"Incur" refers to the act of generating or becoming responsible for expenses as a result of activities, transactions, or ongoing obligations.
Definition of "Incur" as recognizing a statutory obligation
This definition ties "Incur" to legally imposed liabilities.
"Incur" means to assume a liability or obligation imposed by law, regulation, or statutory requirement, whether or not payment is immediately due.
Definition of "Incur" as accepting liability for penalties
This definition connects "Incur" to penalties and fines.
"Incur" refers to the act of becoming responsible for penalties, fines, or other charges due to violations, breaches, or non-compliance with contractual or legal requirements.
Definition of "Incur" as resulting from unforeseen circumstances
This definition links "Incur" to liabilities from unexpected events.
"Incur" means to assume responsibility for obligations or expenses arising from unforeseen circumstances, events, or risks.
Definition of "Incur" as related to long-term liabilities
This definition applies "Incur" to extended obligations.
"Incur" refers to the act of entering into or assuming long-term liabilities or obligations, including loans, leases, or deferred payment agreements.
Definition of "Incur" as assuming liability through third-party actions
This definition ties "Incur" to liabilities arising indirectly.
"Incur" means to become liable for obligations, expenses, or damages caused or triggered by the actions or defaults of a third party.
Definition of "Incur" as a consequence of service usage
This definition connects "Incur" to service-related expenses.
"Incur" refers to the act of becoming obligated to pay for services utilized or provided, regardless of whether payment is immediate or deferred.
Definition of "Incur" as arising from obligations under law
This definition ties "Incur" to legally mandated liabilities.
"Incur" means to become obligated or liable under laws, regulations, or statutory provisions, including but not limited to financial penalties, taxes, or compliance costs.
Definition of "Incur" as resulting from breach of contract
This definition connects "Incur" to liabilities due to breaches.
"Incur" refers to the act of becoming responsible for damages, penalties, or costs as a result of breaching contractual obligations or failing to perform agreed-upon duties.
Definition of "Incur" as a liability for operational costs
This definition links "Incur" to ongoing business expenses.
"Incur" means to take on or assume responsibility for operational costs, expenses, or liabilities directly related to the conduct of business activities.
Definition of "Incur" as related to future performance
This definition applies "Incur" to obligations dependent on future actions.
"Incur" refers to the act of assuming liabilities or obligations that will become due or enforceable based on future performance, milestones, or deliverables.
Definition of "Incur" as a result of loan agreements
This definition ties "Incur" to liabilities created by borrowing.
"Incur" means to become liable for obligations or debts arising from loans, lines of credit, or other borrowing arrangements.
Definition of "Incur" as linked to indemnification clauses
This definition connects "Incur" to indemnity-related obligations.
"Incur" refers to the assumption of liabilities or costs as a result of providing indemnities under the terms of an agreement or contract.
Definition of "Incur" as triggered by force majeure events
This definition links "Incur" to obligations arising from unforeseen circumstances.
"Incur" means to assume liabilities, costs, or obligations resulting from force majeure events, such as natural disasters, acts of war, or other unexpected occurrences.
Definition of "Incur" as related to contingent funding
This definition applies "Incur" to conditional funding arrangements.
"Incur" refers to the assumption of liabilities or obligations contingent upon the receipt or allocation of funding, grants, or other financial resources.
Definition of "Incur" as arising from shared liabilities
This definition ties "Incur" to joint obligations.
"Incur" means to become responsible for liabilities, costs, or expenses shared with or jointly undertaken by another party under a contractual or legal agreement.
Definition of "Incur" as a cost resulting from default
This definition connects "Incur" to costs arising from defaults.
"Incur" refers to the act of becoming liable for costs, penalties, or damages caused by the default or failure to meet obligations under a contract or agreement.
Definition of "Incur" as associated with non-financial obligations
This definition links "Incur" to obligations beyond monetary liabilities.
"Incur" means to assume responsibility for non-financial obligations, such as performance guarantees, compliance requirements, or service delivery commitments.
Definition of "Incur" as creating enforceable obligations
This definition applies "Incur" to obligations that become enforceable.
"Incur" refers to the creation or recognition of liabilities or obligations that are legally enforceable and binding under the terms of an agreement.
Definition of "Incur" as arising from third-party claims
This definition ties "Incur" to liabilities due to external claims.
"Incur" means to assume responsibility for costs, damages, or obligations resulting from claims or disputes raised by third parties.
Definition of "Incur" as triggered by contractual milestones
This definition connects "Incur" to milestone-based obligations.
"Incur" refers to the act of assuming liabilities or costs that become due upon the completion or failure to meet specified contractual milestones.
Definition of "Incur" as creating liabilities through agreements
This definition ties "Incur" to obligations established by agreements.
"Incur" means to assume liabilities, expenses, or obligations as a direct result of entering into agreements or contractual arrangements with another party.
Definition of "Incur" as accepting liability for third-party damages
This definition connects "Incur" to liabilities involving third-party claims.
"Incur" refers to the act of becoming responsible for costs, damages, or penalties resulting from harm or claims initiated by a third party.
Definition of "Incur" as accruing obligations through transactions
This definition links "Incur" to obligations arising from business dealings.
"Incur" means to accrue liabilities or obligations as a consequence of completing transactions, such as sales, purchases, or service agreements.
Definition of "Incur" as arising from operational disruptions
This definition applies "Incur" to obligations caused by interruptions.
"Incur" refers to the act of becoming liable for expenses or damages due to disruptions in operations, such as equipment failures, delays, or supply chain interruptions.
Definition of "Incur" as resulting from compliance costs
This definition ties "Incur" to regulatory or compliance-related liabilities.
"Incur" means to take on costs, expenses, or obligations necessary to comply with legal, regulatory, or statutory requirements.
Definition of "Incur" as a consequence of employee actions
This definition connects "Incur" to liabilities tied to workforce activities.
"Incur" refers to the act of becoming responsible for costs, liabilities, or obligations resulting from actions, errors, or omissions by employees or representatives.
Definition of "Incur" as linked to maintenance obligations
This definition links "Incur" to costs from maintenance or upkeep.
"Incur" means to assume expenses or obligations arising from maintenance, repair, or upkeep of equipment, property, or systems required for ongoing operations.
Definition of "Incur" as arising from failure to mitigate
This definition applies "Incur" to avoidable liabilities.
"Incur" refers to the assumption of liabilities, costs, or damages that arise from a failure to take reasonable steps to mitigate or avoid foreseeable risks or losses.
Definition of "Incur" as assuming liabilities through guarantees
This definition ties "Incur" to obligations created by guarantees.
"Incur" means to become liable for financial or non-financial obligations as a result of issuing guarantees, indemnities, or other forms of assurance.
Definition of "Incur" as a direct result of performance failures
This definition connects "Incur" to liabilities from non-performance.
"Incur" refers to the act of assuming penalties, costs, or liabilities directly tied to a failure to perform obligations as outlined in a contract or agreement.
Definition of "Incur" as arising from unforeseen legal obligations
This definition links "Incur" to unexpected legal liabilities.
"Incur" means to assume legal obligations, costs, or penalties that arise unexpectedly as a result of legislative changes, legal rulings, or newly enforced regulations.
Definition of "Incur" as linked to contingent obligations
This definition applies "Incur" to liabilities dependent on future events.
"Incur" refers to the recognition of obligations or liabilities that are contingent on specific future events or conditions occurring.
Definition of "Incur" as a result of force majeure events
This definition ties "Incur" to liabilities during extraordinary events.
"Incur" means to assume costs, expenses, or liabilities arising from force majeure events, such as natural disasters, wars, or other unforeseen circumstances.
Definition of "Incur" as creating obligations through financing
This definition connects "Incur" to financial arrangements.
"Incur" refers to the act of assuming liabilities, debts, or obligations as a result of securing financing, such as loans, credit lines, or other financial instruments.
Definition of "Incur" as related to recurring operational costs
This definition links "Incur" to routine expenses.
"Incur" means to take on regular or recurring liabilities, such as payroll, utilities, or lease payments, as part of standard business operations.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.