contribution

Definition 1

General: Imposed or required payment.

Definition 2

Accounting: Amount left over after direct (variable) costs are deducted from the sales revenue. Also called gross income, this sum pays for indirect (fixed) costs and contributes to net income.

Definition 3

Insurance: Proportional sharing of loss by the insurers when more than one policy is taken by the insured for the same peril. Under a contract of indemnity, the insured cannot profit from his or her misfortune irrespective of the number of policies.

Definition 4

Law: Right of a joint debtor (or joint tortfeasor) who pays entirely a debt (or liability) to recover from other joint debtors (or joint tortfeasors) their individual shares of the debt (or liability).