The Law Dictionary

GOOLE

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

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...]

GRACE , DAYS OF

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

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...]

GOOD CAUSE

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

Having adequate or substantial grounds upon which to do something (e.g. make a ruling) or not to do something. … [Read more...]

GRACE PERIOD

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

Usually used with regard to credit card bills, it is a time when a debtor is not required to make payments on a debt nor accrue interest. Most credit cards allow a 20-30 day grace period from the billing date from which no interest charges are accrued and the debt may be paid in full. Cash advances have no grace period and interest accrues from the withdrawal date. … [Read more...]

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