Found matches in 20 glossary entry(s).
garnishment -- A process that takes a person's property and uses it to satisfy his debt.
general partner -- The person who is personally liable for all the debts of a business which is operated as a limited partnership. This person is also responsible for the management of the business.
gift taxes -- Federal taxes that assessed on certain gifts. The donor is responsible for the tax assessment.
grace period -- The time period where payment is not required on a debt.
grand jury -- A group of citizens that is charged with the decision of whether there is enough evidence to justify a criminal suit.
grandfather clause -- The provision of an exemption in a new law for those who are already a part of the system so that its application is limited to people who are new to the system.
grant deed -- A deed which connotes that the person transferring the property in fact owns the title and that it is unencumbered, except as described in the deed.
grantor -- The trustor or settlor of a trust.
gravamen -- The material aspect of a complaint.
greenmail -- A situation in which a person or entity owns enough stock in a company to threaten a hostile takeover and is therefore albe to demand a price higher than the market value from the company to repurchase the stock and avoid the takeover
gross estate -- For federal estate tax filing purposes, the total of all property owned at death, exclusive of any deductions.
gross income -- Income from whatever source before any deductions
grounds for divorce -- The legal reasons stated for requesting a divorce.
group life or group health insurance -- A single policy under which individuals in a group may subscribe.
guarantor -- A person who gives a legally binding promise to pay another person's debt if that person defaults.
guaranty -- The legally binding promise to pay another person's debt if that person defaults.
guardian -- An adult who has been appointed by a court to control and care for a minor and his property.
guardian ad litem -- A person appointed by a court to represent and protect the interests of a child or an incapacitated adult during a lawsuit.
guardian of the estate -- A person appointed by a court to care for the property of a minor child.
guardianship -- A legal relationship created by a court where an adult is appointed as the guardian of a minor child or an incapacitated adult.
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