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General clause Designation used about section 36 of the Danish Contracts Act.

General meeting Supreme authority of an association or a company. Some associations and companies use other terms for a general meeting.

General partner The partner of a limited partnership who is personally liable. The general partner may very well be a company with limited liability, e.g. a private limited liability company.

General power of attorney Power of attorney relating to all financial affairs. A general power of attorney can sometimes make a guardianship superfluous in situations where a person has issued a general power of attorney before the person concerned lost his/her capacity to act on his/her own behalf.

Generic goods A term under the law pertaining to the sale of goods. Sale of generic goods relates to the sale of goods specified by their nature, for example 100 tonnes of wheat.

Gift Free transfer of an asset. In addition, a certain amount of generosity is often required.

Gift tax Tax to the Treasury on gifts between next-of-kin. The gift tax rate is 15%. If the gift is not to a next of kin, the gift amount becomes taxable to the receiver.

Good faith Did not know and ought not to know.

Goods exempt from execution Goods that cannot be seized from a debtor in connection with, for example, enforcement proceedings, cf. section 509 of the Danish Administration of Justice Act. 

Goodwill The value of a business – except real property, equipment, inventories, claims and the like – for example, the clientele, reputation and location and, for example, the business’ reputation among suppliers, creditors, staff, etc.

Grounds The grounds given in a judgment or an order for the outcome of a case.

Guarantee Warranty for payment by the debtor.

Guarantee for loss Guarantee for the creditor’s loss after enforcement proceedings against the debtor.

Guarantee whereby the guarantor assumes primary liability Guarantee whereby the guarantor is immediately liable in the event of breach committed by the debtor.

Guardian A person who is to look after the interests of another person. Certain conditions must be met to become a guardian.

Guardian appointed by the Probate Court Temporary measure where the Probate Court appoints a person to act on behalf of a beneficiary (or legatee) where the person concerned is unable to look after his or her interests or where the permanent guardian is prevented/disqualified during the administration proceedings, cf. part 11 of the Danish Administration of the Estates of Deceased Persons Act.

Guardianship When a person is appointed guardian for a person who cannot or is not allowed to act on his/her own.


Til top Sidst opdateret: 11-01-2010 
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