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

Category: G

GLOBAL RESOURCE INFORMATION DATABASE (GRID)

The UN Environment Program (UNEP) set up this agency in 1985. It has two purposes: (1)integrate scientific understanding of the worlds’ processes; (2) have sound environmental management in countries, land-mass, and worldwide

GOAL COMMITMENT

A documented dedication of time, money, people towards gaining a stated objective.

GOLD FIX

The spot price of gold bullion and gold related contracts the world over is set every business day at 10:30 a.m. and 3:30 p.m., GMT, twice daily, by experts in London, Paris,

GONE CONCERN

Entity defunct or soon to be defunct. Goodwill value is gone. Worth of any tangible assets is now tied to auction or liquidation. Debt is now due, full and immediate. Also refer

GRACE PERIOD

Additional time scheduled or allocated to complete a task, such as complying with a regulation, meeting an obligation, or obtaining an agreement.

GRAINS PER GALLON (GPG)

Water hardness as a measured unit. 1 grain (64.8 milligrams) of calcium carbonate dissolved in 1 US gallon of water equals one GPG. It figures out to be 14.3 parts per million

GRAY KNIGHT

A second unsolicited bidder in a HOSTILE TAKEOVER transaction that attempts to take advantage of the target company

GRIDLOCK

In Finance, this is the inability to do day-to-day operations due to a business crisis using essential corporate resources, and unable to resolve the crisis.

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 LEASE

Type of lease that is long-term, typically 99 years. It involves land with standing buildings or for developing land. the owner of the land gets the property as-is at the end of

GROWTH FUND

A mutual fund that invests in stock. These stocks are in their growth stage and thusly have a higher risk. Income stocks are more stable and risk less principal.

GUERILLA MARKETING

When a small firm can compete with a bigger one getting a narrow niche of profit. It can be extreme specialization, impressing customers, providing great service, having fast response time, fast turnaround,

GUNS OR BUTTER

A model that compares military spending and food supplies in a nations spending. It shows the increase of one relying on the decreasing of the other.

GAP PERIOD

Duration for calculating total earnings on excess deferral distributions from Roth IRA and relevant 401(k) plans. Typically occurs between a distribution date and a calendar segment end date, quarterly or yearly.

GATEKEEPER

Authorized person with access control to a decision maker or specific information. Typically a junior officer or a secretary.

GENERAL ADJUSTMENT BUREAU

A stand-alone company adjusting claims as well as training adjusters. Essentially an adjustment clearinghouse for many different insurers.

GENERAL CONDITIONS

Usually in a spec’s book or in associated architectural drawings of a contract, these contract conditions set the rights and responsibilities of the parties involved as well as the minimum contractor performance

GENERAL MORTGAGE BOND

Outranked by one or more senior bonds this bond is secured on the assets of the issuer by a blanket charge .

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