Contribution

Business, Legal & Accounting Glossary

Definition: Contribution




What is the dictionary definition of Contribution?

Dictionary Definition


n. 1) donation to a charity or political campaign. 2) the sharing of a loss by each of several persons who may have been jointly responsible for injury to a third party, who entered into a business which lost money or who owe a debt jointly. Quite often this arises when one responsible party pays more than his share and then demands contribution from the others in proportion to their share of the obligation. Example: three partners own equal shares in a building from which a cornice falls and injures Bobby Hardhat. One partner pays the demand of $9,000 for Hardhat’s injury; he is entitled to a contribution of $3,000 from each of his partners.


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https://payrollheaven.com/define/contribution/
Modern Language Association (MLA):
Contribution. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 26, 2021 https://payrollheaven.com/define/contribution/.
Chicago Manual of Style (CMS):
Contribution. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/contribution/ (accessed: September 26, 2021).
American Psychological Association (APA):
Contribution. PayrollHeaven.com. Retrieved September 26, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/contribution/

Definition Sources


Definitions for Contribution are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 27th April, 2020 | 1 Views.