Expense

{
  "id": "MLC-T-LAW-001991",
  "term": "Expense",
  "field": "Law",
  "definition": "A cost incurred by an individual, business, or other entity in the course of its activities. In a legal context, expenses include litigation costs like attorney's fees, court filing fees, and expert witness payments, which are recoverable by the prevailing party under specific statutes or contractual provisions. Business expenses are deductible from revenue to calculate taxable income, while personal expenses are relevant in areas like bankruptcy and family law to determine financial status.",
  "url": "https://mlchart.com/terminology/law/expense/"
}