Legal-Explanations.com - Legal resources in plain English
Legal-Explanations.com Home > Legal Definitions
 

American Civil Liberties Union

n. also called arrearages, it is the legal term for the debt accrued after missing an expected payment. Arrears accrue from the date upon the first missed payment. The term is often used to describe being late with rent, royalties (or other contractual payments), child support, or other legal financial obligation.

 
Legal-Explanations.com Home
About us | Contact us | Privacy | Terms of service

2004 - 2007 Legal-Explanations.com. All rights reserved