goodwill
n. the benefit of a business having a good reputation under its name and regular patronage. Goodwill is not tangible like equipment, right to lease the premises or inventory of goods.

governmental immunity
n. the doctrine from English common law that no governmental body can be sued unless it gives permission. This protection resulted in terrible injustices, since public hospitals,

Grace period
The period allowed to avoid any finance charges by paying off the balance in full before the due date.

Grand Jury
n. a jury in each county or federal court district which serves for a term of a year and is usually selected from a list of nominees offered by the judges in the county or district. The traditional 23 members may be appointed or have their names draw ...

grand larceny
n. the crime of theft of another's property (including money) over a certain value (for example, $500), as distinguished from petty (or petit) larceny in which the value is below the grand larceny limit.

grand theft
n. See also: grand larceny.

grandfather clause
n. 1) a clause in a statute or zoning ordinance (particularly a city ordinance) which permits the operator of a business or a land owner to be exempt from restrictions on use if the business or property continues to be used as it was when the law was ...