| General clause |
Designation used about section 36 of the Danish Contracts Act.
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| General meeting |
Supreme authority of an association or a company. Some associations and companies use other terms for a general meeting.
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| 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.
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| 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.
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| 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.
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| Gift |
Free transfer of an asset. In addition, a certain amount of generosity is often required.
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| 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.
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| Good faith |
Did not know and ought not to know.
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| 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.
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| 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.
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| Grounds |
The grounds given in a judgment or an order for the outcome of a case.
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| Guarantee |
Warranty for payment by the debtor.
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| Guarantee for loss |
Guarantee for the creditor’s loss after enforcement proceedings against the debtor.
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| Guarantee whereby the guarantor assumes primary liability |
Guarantee whereby the guarantor is immediately liable in the event of breach committed by the debtor.
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| Guardian |
A person who is to look after the interests of another person. Certain conditions must be met to become a guardian.
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| 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.
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| Guardianship |
When a person is appointed guardian for a person who cannot or is not allowed to act on his/her own.
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