„Accrual Of Obligation“

What does Accrual Of Obligation stand for?

The maturing of an obligation to the date when the obligated party must perform. (Such as a time draft which must be paid by the drawee on the date stated.)

Source:

Miller, Roger LeRoy, and William Eric Hollowell. “Business Law: Text and Cases.” 14th edition. Boston, MA: Cengage Learning, 2014.

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