accrual

In a technical legal sense it may be argued that a tax does not accrue until it has been assessed and becomes due; but it is also true that in advance of the assessment of a tax, all the events may occur which fix the amount of the tax and determine the liability of the taxpayer to pay it. In the economic and bookkeeping sense with which the statute and Treasury decision were concerned, the taxes had accrued.

CLAUSE OF. A clause in a deed of settlement or a will providing that the share of one dying shall vest in the survivor or survivors.