General law

General law

Common terminology used in legal business.

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General law

general damages

Law; General law

Pecuniary loss for injuries suffered, or breach of contract which cannot be calculated exactly, or cannot be given a value for the injuries are known as general damages. They include pain and ...

generation skipping transfer tax

Law; General law

A tax levied by the Federal Government on the money given or left to grandchildren or great grandchildren. The purpose of this is to prevent families from avoiding tax on property left by the ...

If a trust is designed for the principal beneficiary to be the grandchildren of the maker of the trust, with his children receiving only fixed income from it, it is called generation skipping trust. ...

genericide

Law; General law

A process by which a brand name or trademark has become a generic description for a product or service, rather than referring to the specific meaning intended by the brand or trademark holder. Some ...

Genetic Information Nondiscrimination Act (GINA)

Law; General law

An act passed by the Federal Government on 21st May, 2008, which prohibits discrimination by insurers and employers on the basis of genetic information.

gift

Law; General law

Gift means the transfer by one person to another of any existing movable or immovable property, voluntarily and without any consideration in money or money's worth. Any person who acquires any ...

gift tax

Law; General law

In the United States, if the value of a gift or combination of gifts from one person to another exceeds $13,000 a year, then a Federal tax called gift tax is levied on the gifts.