The Law Dictionary

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

Category: G

GOVERNMENT INTERVENTION

Government interruption of actions taken based on an entity’s decisions. Typically, a regulatory-based interruption. Typically, concerning social and economic issues.

GRADED PREMIUM

The beginning premium of a contract is low and increases over time based on a schedule.

GRANDFATHER CLAUSE

Exemption-allowance statement. Insulates specific entities, object, or situation from the fallout of changes or imposition of a decision. It could be a rule, law, or statute with pre-existing conditions. An example is

GRAY LIST

An organization’s position with an investment bank renders these stocks ineligible for trade. Ongoing matters of acquisitions and mergers of companies push stocks onto the gray list and are not traded by

GREEN MONDAY

The second Monday in December is the retail industry’s name for this day. Last-minute holiday shoppers allegedly make this day the strongest retail sales day.

GRIEVANCE PROCEDURE

Typically documented in a union collective bargaining agreement, this is a method or step-by-step process for an employee to get a complaint heard and resolved. Formal written complaint escalates up the levels

GROSS MARGIN

(Sales revenue minus Cost of sales) divided by Sales revenue calculates this value.

GROSS RATING POINT (GRP)

Weekly advertising schedule’s rating points tally. Can be tallied for longer periods. The tally can represent the percent of targeted households reached once per week, or the percentage of them reached 100

GROUND FLOOR

Beginning period with lowest expense and highest gain of a new venture or investment opportunity.

GROUP DYNAMICS

1. Character, ability, opinion, force of will intertwining for development and survival among people with a common objective. 2. Group behavior decomposed into principles as a field of study.

GROUP OF SEVEN (G-7)

The major powers in finance that meet to debate monetary policy and economics. They are part of the OECD. They are Canada, France, Germany, Italy, Japan, United States of American, and the

GROUP THINK

When group members agree with the majority. This causes alternative actions to be not taken or even heard. It can lead to a disasterous decision.

GROWTH STAGE

The third state in a life cycle when revenue raises fast and profits peak. The decline begins after this.

GUARANTEED PRICE

When a manufacturer or supplier refunds the difference in price while the agent still has the goods bought at a higher price. fIt helps agents order in bulk and not lose due

GUEST HOUSE

Accommodations that are larger than a bed and breakfast. The breakfast is in the room charge but does not cover alcohol. It can be a low budger room or luxury apartments. They

GUS CLASSIFICATION

Inventory that is seperated in three categories. They are general items used often, unique items used in one way, and specific items only in one product.

G-8 FINANCE MINISTERS

Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States G8 summit representatives in the annual meeting.

GAMBLING

Betting; wagering. Results in either a gain or total loss of wager, the money or asset put up. Neither risk-taking nor investing, nor like insurance. Risk taking or speculation takes on substantial

GARMAN KOHLHAGEN MODEL

Foreign exchange’s European call option value estimating formula. Risk-free interest rate paid on foreign currency is a continuous dividend yield in this formula. Borrowing and lending takes place at the same interest

GAUGE REPEATABILITY & REPRODUCIBILITY (GR&R)

Measurement accuracy determination. Confirming a test result by several measurements taken by the same person are identical in value, setting its repeatability, and several measurements taken by different persons are identical in

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