The Law Dictionary

Law Dictionary

G

GENUINE

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As applied to notes, bonds, and other written instruments, this term means that they are truly what they purport to be, and that they are not false, forged, fictitious, simulated, spurious, or counterfeit. … [Read more...] about GENUINE

GENERATION-SKIPPING TRUST

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A trust designed to save on estate tax by passing the money through levels of family's descendants. The principal of the trust goes solely to the grandchildren as beneficiaries. The children receive only trust income. As a result, the children (second generation) never legally own the property (or corpus) of the trust and thus it isn't taxable to them and their estate at their … [Read more...] about GENERATION-SKIPPING TRUST

GENUS

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In the civil law. A general class or division, comprising several species. In toto jure generi per speciem derogatur, et illud potis8imum habetur quod ad speciem directum est, throughout the law, the species takes from the genus, and that is most particularly regarded which refers to the species. A man's lineage, or direct descendants. In logic, it is the first of the … [Read more...] about GENUS