(A) The benefit that a company derives as a result of its good trade name. It may be recorded as an intangible asset on balance sheets of a company. (B) By this term is meant the benefit which arises from the establishment of particular trades or occupations. Mr. Justice Story describes a good will to be the advantage of benefit which is acquired by an establishment, beyond the … [Read more...]

This word is commonly used in contradistinction to "right" Thus, in St 22 Edw. III., the lord chancellor was instructed to take cognisance of matters of grace, being such subjects of equity jurisdiction as were exclusively matters of equity. Brown. A faculty, license, or dispensation; also general and free pardon by act of parliament See ACT OF GRACE. … [Read more...]

Conduct authorized by law. Surety of good behaviour may be demanded from any person who is justly suspected, upon sufficient grounds, of intending to commit a crime or misdemeanor. Surety. for good behaviour is somewhat similar to surety of the peace, but the recognizance is more easily forfeited, and it ought to be demanded with greater caution. … [Read more...]

In old English law. A breach in a bank or sea wall, or a passage worn by the flux and reflux of the sea. St. 16 & 17 Car. II. c. 11. … [Read more...]

Time of indulgence granted to an acceptor or maker for the payment of his bill of exchange or note. It was originally a gratuitous favor, (hence the name,) but custom has rendered it a legal right. … [Read more...]