The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: G

GENERAL ORDER WAREHOUSE

Storage facility for goods not yet been bonded through Customs for legal entry into the country, but have arrived in the United States. Items can be in the warehouse for up to

GENERAL VERDICT

Typical jury decision. In a civil case it favors one or the other party. In a criminal case, the defendant is guilty or not guilty. Usual form of court verdict.

GENERIC

An item marketed with no brand name, trademark, or other distinguishing feature. Nothing separates it from other similar items except for it market name. Part of a certain general class, or genus,

GEOGRAPHIC PRICING

Transportation costs based on the customer’s or market’s distance is computed to generate a selling price using this variable-pricing method.

GIFFEN GOOD

Condition seemingly paradoxal that a consumer item, deemed essential to the community, is in greater demand when its price rises, and in less demand when the price falls. This occurred to corn

GIGAWATT HOUR (GWH)

Equivalent to: 3.41 billion British thermal units (Btu) or 3.6 terajoules or one thousand megawatt hours or one billion (10^9) watt hours. A unit of electrical energy.

GLASS COVERAGE FORM

Commercial glass insurance, for example, plate glass covered by a form specifically.

GLOBAL INTERDEPENDENCE

World-wide, mutual dependence. Perceived as each country depending on, and depended on other countries. Comes from the importing and exporting of goods and services. Has been the source that highly contributes to

GLOBAL WARMING POTENTIAL (GWP)

Ratio of potential atmospheric warming caused by a substance measure to the same mass of carbon dioxide. Methane is 21, and water vapor is zero. An example is CFC12, a refrigerant, of

GOING CONCERN

A business currently successful with indications in the foreseeable future of continuing to do well.

GOLDEN BUNGEE

Providing consulting services, public relations gigs, or remaining connected to the company somehow, an executive’s severance package provides generous perks in exchange.

GOOD FAITH BARGAINING

Objective evidence of action satisfying the requirement that the parties to a contract regularly meet and willingly discuss resolution on proposed new contract terms. No demand exists on any party to make

GOODWILL

The primary INTANGIBLE ASSET of a company, generally comprised of reputation, contact networks, intellectual property, and branding. Although the assets have value, they cannot be physically inspected and are extremely ILLIQUID. Goodwill

GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)

A US governmentowned CORPORATION (and agency of the Department of Housing and Urban Development) that purchases residential MORTGAGES guaranteed by the Department of Veterans Affairs and the Federal Housing Administration and pools

GRADIENT

Slope angle, be it an incline or a decline. Three typical ways to measure it: (1) The difference between the ground or horizontal, the ‘grade line’ and the incline or decline stated

GRANDFATHER-FATHER-SON

Rotation of data with one on a daily basis, a second one on a weekly basis, and a third one on a monthly basis. This is a typical method of backups that

GRAY MARKET

1. Selling in unauthorized sales-territory, or using unauthorized dealers in an authorized territory. Undercutting authorized sales territories and authorized dealers with prices lower than wholesale or distributor charges. Shady market of genuine

GREEN PAPER

Basis for consultation and debate among interested parties invited to join in a process of discussion on a specific policy area circulated as this initial-draft document. Before committing to the official policy

GRINDER

Nickname to an investor that does not experience a high return on profit, even though consistently investing.

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