Legal Glossary
- GOOD FAITH
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Honest and fair dealing with another party
- GOOD WILL
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Intangible consumer association with a business; includes a business’s reputation and community standing
- GOODS
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Property other than real estate
- GRACE PERIOD
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Specified amount of time allowed in a contract for late payments before a contract would be cancelled or late charges would apply
- GRATUITOUS PROMISE
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A legally unenforceable moral promise
- GROSS NEGLIGENCE
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Conduct that is reckless; more than mere negligence
- GUARANTEE
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A person to whom a guaranty is made
- GUARANTOR
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The person who commits to a guaranty
- GUARANTY
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A promise or warranty to cover the debt of another upon his or her default
- GUEST
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A temporary boarder or occupier of another’s property with permission
- GUEST STATUTE
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A law enacted in some states which reduces the liability of an owner or its driver of an automobile towards a passenger in the vehicle
- GUILTY
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Finding by trier of fact as to criminal responsibility of defendant