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GA GE GO GU
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GARNISHEE
"Party named in the notice of garnishment, which the creditor believes owes a debt to the debtor e.g. bank, employer or company who owes the debtor money."
Garnishee
"The seizure of property, monies, earnings, receivables belonging to a debtor that are in the hands of a third party. "
GARNISHMENT
"The procedure by which a creditor can collect on a judgment or order by claiming money owed to the debtor by a third party. For example, the creditor can get a direction requiring the More…
Gazump
To increase by subsequent bidding by an individual with effect of annulling any previous offer.
General Assignment of Book Debts
A pre-PPSA security agreement under which a bank or other financial institution obtained a transfer of all accounts receivable of a business debtor (present and future) to secure a loan. More…
General Security Agreement (GSA)
A contract under which all the personal property of a debtor is pledged as security to a lender.
Goodwill
This is an extra value placed on a business if the owner of a business decides it is worth more than the value of its assets. It is usually included where the business is to be sold as a More…
Guarantor
A person who pledges collateral for the contract of another or who guarantees to pay a certain debt of a debtor if the debtor defaults..
Cred-O-Pedia Glossary of Credit Learning
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