GRAM

Metric system weight unit. Equals 1/1000th (one one-thousandth) of a kilogram, about 0.35 ounce, 0.02 pound, or 15.43 grains equivalence in the decimal system.

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GRADUATED LEASE

A lease that uses variable payments adjusted periodically to recognize current value. Payment amounts can also be An economic benchmark rate, like the consumer price index, can be used to adjust the payment amounts. A type of long-term lease.

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GRAMM-LEACH-BLILEY ACT

Repeal of anti-affiliation statutes of the Glass-Steagall Act. Renewed the legal right banks to consolidate with financial-security companies. Repeal legislation passed in 1999.

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GRAMMAR SCHOOL

In England, this term designates a school in which such instructionis given as will prepare the student to enter a college or university, and in thissense the phrase was used in the Massachusetts colonial act of 1647, requiring everytown containing a huudred householders to set up a “grammar school.” See Jenkins v.Andover, 103 Mass. 97. But in modern American usage the term denotes a school,intermediate between the primary school and the high school, in which Englishgrammar and other studies of that grade are taught.Grammatica falsa non vitiat chartam.8 Coke, 48. False grammar does not vitiate a deed.

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GRADUATED WAGE

Level-structured organizational salaries. Individual performance, seniority, experience and job grade all factor into salary increases.

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GRAMMATOPHYLACIUM

(Gneco- Lat.) In the civil law. A place for keeping writings or records. Dig. 48, 19, 9, 6.

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GRADUATION PERIOD

Documented time schedule for graduated mortgage payments to increase by set percentage. This time schedule is usually annually. Typically this is a fixed rate mortgage, not an adjustable rate mortgage. In this way, the borrower knows what the new payments amount will be by schedule.

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Categories: G

GRAMME

The unit of weight in the metric system. The gramme is the weight of acubic centimeter of distilled water at the temperature of 4

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Categories: G