Business Law GLOSSARY
Glossary of Business Law Terms
W X Y Z #
< Back to Online
- G -
Garnishment of Wages: Taking or seizing the amount owing
pursuant to a child support order or other order, directly from the
employee's wages; a proceeding whereby a debtor's money, or other
property, which is under the control of another is given to a third
person to whom the debtor owes a debt.
General Partner: Usually one of the owners and operators
of a partnership, which is a joint business entered into for profit,
in which responsibility for management, profits and, most
Go Public: The process of becoming a public, fully
reporting company either by filing a registrations statement with
the SEC, or by merging with a public company.
Good Standing: A state a corporation enjoys when it is in
full compliance with the law.
Goods: Items held for sale in the regular course of
business, as in a retail store.
Gross Negligence: Failure to use even the slightest amount
of care in a way that shows recklessness or willful disregard for
the safety of others.