California Family Code 903 – A debt is “incurred” at the following time:(a) In the case of a …
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A debt is “incurred” at the following time:
(a) In the case of a contract, at the time the contract is made.
Terms Used In California Family Code 903
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
(b) In the case of a tort, at the time the tort occurs.
(c) In other cases, at the time the obligation arises.
(Enacted by Stats. 1992, Ch. 162, Sec. 10. Operative January 1, 1994.)