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Business Definitions

Business Definitions
Definitions A
Definitions B
Definitions C
Definitions D
Definitions E
Definitions F
Definitions G
Definitions H
Definitions I
Definitions J,K
Definitions L
Definitions M
Definitions N
Definitions O
Definitions P,Q
Definitions R
Definitions S
Definitions T
Definitions U,V
Definitions W,X
Definitions Y,Z


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Business Terms and Definitions (G)

Garnishment: A court ordered process in which a creditor is given the right to obtain a portion of a debtor's income directly from the debtor's employer to satisfy and unpaid debt.

General Lien: A lien placed on the personal assets of a borrower instead of real property.

General Partner: One of the co-owner's of an unincorporated business who maintains a share of the company's profits and losses. A general partners is also held liable for debts incurred by the company.

Gift Tax: A levy on items given a gifts or other securities. The tax may not be implemented if the gift falls within the exclusion limits that are determined by the particular taxing authority.

Globalization: The use of international markets for the purpose of buying, selling and trading goods at locations around the world. With all the advances in computer technology and the ease of worldwide travel, globalization is the 24 hour standard of trade and commerce in the modern world.

Gold Card: A credit instrument that has a normal limit of at least $5,000. The gold card is usually marketed to consumers with higher incomes and a good credit history.

Government Bonds: Long term securities that have the highest rating available because they are issued by the United States government

Government National Mortgage Association (GNMA or Ginnie Mae): A government owned corporation headed by the U.S. Department of Housing and Urban Development that approves and guarantees mortgage backed securities. GNMA subsidizes public housing by purchasing loans that are pooled and resold to investors.

Grace Period: The time allowed for making payments on loans after the actual due date that is not subject to late payments.

Graduated Payment Mortgage: A type of mortgage payment that allows low payments in the beginning years and higher payments in later years. Payment rise by an established amount in each of the first 5 to 10 years and then become fixed for the remaining life of the loan.

Grantor: A person who executes an option contract or a deed that conveys property to another.

Gross Domestic Product (GDP): Market prices of the goods and services during a specified period of time, usually quarterly or yearly. The GDP includes personal consumption, government spending, private investments, exports, manufacturing and corporate production.

Guardian: A person who is appointed by the courts to oversee the affairs of a minor, or a grownup who is incapable of managing his or her own affairs. This arrangement is terminated when the minor turns a certain age, usually 21, or if the grownup is determined to be mentally or physically competent.


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