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Good will
Good willBy 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 mere value of the capital, stocks, funds, or property employed therein, in consequence of the general public patronage and encouragement, which it receives from constant or habitual customers, on account of its local position, or common celebrity, or reputation for skill or affluence, or punctuality, or from other accidental circumstances or necessities, or even from ancient partialities, or prejudices. RELATED TERMS-------------------------------------- Term 1) Construction. Word; expression speech. 2) Contracts. This word is used in the civil, law to denote the space of time granted to the debtor for discharging his obligation; there are express terms resulting from the positive stipulations of the agreement; as, where one undertakes to pay a certain sum on a certain day and also terms which tacitly result from the nature of the things which are the object of the engagement, or from the place where the act is agreed to be done. For instance, if a builder engage to construct a house for me, I must allow a reasonable time for fulfilling his engagement. 3) Estates. The limitation of an estate, as a term for years, for life, and the like. The word term does not merely signify the time specified in the lease, but the estate also and interest that passes by that lease; and therefore the term may expire during the continuance of the time, as by surrender, forfeiture and the like. 4) Practice. The space of time during which a court holds a session; sometimes the term is a monthly, at others it is a quarterly period, according to the constitution of the court. Benefit This word is used in the same sense as gain and profits. Justice Fairness. A state of affairs in which conduct or action is both fair and right, given the circumstances. In law, it more specifically refers to the paramount obligation to ensure that all persons are treated fairly. Litigants "seek justice" by asking for compensation for wrongs committed against them; to right the inequity such that, with the compensation, a wrong has been righted and the balance of "good" or "virtue" over "wrong" or "evil" has been corrected. Will A will is a legal document in which a person directs how his property is to be distributed after his death. Such documents must be executed in due form and must be duly witnessed. Mere This is the French word for mother. It is frequently used as, in ventre sa mere, which signifies; a child unborn, or in the womb. Value Common law. This term has two different meanings. It sometimes expresses the utility of an object, and some times the power of purchasing other good with it. The first may be called value in use, the latter value in exchange. Capital 1) Political economy, commerce. In political economy, it is that portion of the produce of a country, which may be made directly available either to support the human species or to the facilitating of production. 2) In commerce, as applied to individuals, it is those objects, whether consisting of money or other property, which a merchant, trader, or other person adventures in an undertaking, or which he contributes to the common stock of a partnership. 3) It signifies money put out at interest. Stocks Criminal law. A machine commonly made of wood, with boles in it, in which to confine persons accused of or guilty of a crime. Funds Cash on hands; as, A B is in funds to pay my bill on him; stocks, as, A B has $1000 in the funds. By public funds is understood, the taxes, customs, &c . appropriated by the, government for the discharge of its obligations. Property Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property. Employed One who is in the service of another. Such a person is entitled to rights and liable to.perform certain duties. General 1) A principal officer, particularly in the army. 2) Something opposed to special; as, a general verdict, the general issue, which expressions are used in contradistinction to special verdict, special issue. 3) Principal, as the general post office. 4) Not select, as a general ship. 5) Not particular, as a general custom. 5) Not limited, as general jurisdiction. 7) This word is sometimes annexed or prefixed to other words to express or limit the extent of their signification; as Attorney General, Solicitor General, the General Assembly. Public By the term the public, is meant the whole body politic, or all the citizens of the state; sometimes it signifies the inhabitants of a particular place; as, the New York public. Patronage The right of appointing to office; as the patronage of the president of the United States, if abused, may endanger the liberties of the people. Account Practice. 1) A statement of the receipts and payments of an executor, administrator, or other trustee, of the estate confided to him. 2) An account is also the statement of two merchants or others who have dealt together, showing the debits and credits between them. Local Pertaining to a place; something annexed to the freehold or tied to a certain place; as, local courts, or courts whose jurisdiction is limited to a particular place; local allegiance, or allegiance due while you are in a particular place or country; local taxes, or those which are collected for particular districts. Common marriage law. a marriage in which no formal ceremony took place and no license exists. Reputation Evidence. The opinion generally entertained by persons who know another, as to his character, . or it is the opinion generally entertained by person; who know a family as to its pedigree, and the like. SIMILAR TERMS-------------------------------------- Good and lawful men Probi et legales homines. The law requires that those who serve on juries shall be good. and lawful men; by which is understood those qualified to serve on juries; that is, that they be of full age, citizens, not infamous nor non compos mentis, and they must be res ident in the county where the venue is laid. Good behaviour 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. Good cause A standard by which a recipient of welfare is excused from cooperating with the cse agency because by doing so the recipient and the children could be in danger. a good cause finding usually results from ample documentation of violence and abuse by the non-custodial parent. Good consideration Contracts. A good consideration is one which flows from kindred or natural love and affection alone, and is not of a pecuniary.nature. Good faith Absence of intent to commit fraud. Good time In the US penitentiary jargon, days subtracted from certain prisoners' sentences for good behavior. Goodwill An intangible business asset which includes a cultivated reputation and consequential attraction and confidence of repeat customers and connections. PREVIOUS AND NEXT TERMS-------------------------------------- Good and lawful men Probi et legales homines. The law requires that those who serve on juries shall be good. and lawful men; by which is understood those qualified to serve on juries; that is, that they be of full age, citizens, not infamous nor non compos mentis, and they must be res ident in the county where the venue is laid. Good behaviour 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. Good cause A standard by which a recipient of welfare is excused from cooperating with the cse agency because by doing so the recipient and the children could be in danger. a good cause finding usually results from ample documentation of violence and abuse by the non-custodial parent. Good consideration Contracts. A good consideration is one which flows from kindred or natural love and affection alone, and is not of a pecuniary.nature. Good faith Absence of intent to commit fraud. Good will Goodwill An intangible business asset which includes a cultivated reputation and consequential attraction and confidence of repeat customers and connections. Gout Medical jurisp. Contracts. An inflammation of the fibrous and ligamentous parts of the joints. Government "natural and political law. The manner in which sovereignty is exercised in each state. There are three simple forms of government, the democratic, the aristocratic, and monarchical. But these three simple forms may be varied to infinity by the mixture and divisions of their different powers. Sometimes by the word government is understood the body of men, or the individual in the state, to whom is entrusted the executive power. It is taken in this sense when the government is spoken of in opposition to other bodies in the state. Government de facto A government that unlawfully gets possession and control of the rightful legal government, and maintains itself there, by force and arms, against the will of the rightful government, and claims to exercise the powers thereof. A government de facto is such as exists after it has expelled the regularly constituted authorities in their places, so as to represent in fact the sovereignty of the nation. Government de jure The rightful, legal government. We thank you for using the Juridical Dictionary to search for Good will. If you have a better definition for Good will than the one presented here, please let us know by making use of the suggest a term option. This definition of Good will may be disputed by other professionals. Our attempt is to provide easy definitions on Good will and any other medical topic for the public at large.
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