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General Average |
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General AverageProvision in maritime law where all shippers on a given voyage would reimburse the ship line in the event of vessel sinking or catastrophic damage. It also provides for the reimbursement to those shippers whose cargo was thrown overboard in order to save the vessel.General Average Similar MatchesGeneral LienGeneral Lien(1) A lien such as a tax lien or judgment lien which attaches to all property of the debtor rather than the lien of, for example, a trust deed, which attaches only to specific property. (2) The right of a creditor to hold personal property of a debtor for payment of a debt not associated with the property being held. Must be done under an agreement since against general precepts of law. Extraordinary general meetingExtraordinary general meetingAn EGM is a special meeting of a company and its shareholders which can be called by company directors or anyone with at least 10% of the voting rights on the company's shares.EGMs have to be called in order for certain special resolutions to be passed (e.g. to approve a takeover or merger or break-up of the company) and for the resolution to be passed, 75% of more of the shareholders have to vote for it. General lienGeneral lienThe legal right for a creditor to seize the assets of a debtor to satisfy an outstanding debt. General partnerGeneral partnerA participant who has unlimited liability for the obligations of a partnership. General lienGeneral lienAn attachment that gives the lender the right to seize the personal property of a borrower who has not fulfilled the obligations of the loan, but prevents the lender from seizing real property. Further SuggestionsGeneral Agreement on Tariffs and TradeGeneral Agreement on Tariffs and Trade (GATT) General Agreement on Tariffs and Trade General Mortgage Bond general obligation bond General partnership General ledger general personal equity plan Generalized System of Preferences General Average Contribution General Agreement on Trade in Services General revenue General cash offer Generally Accepted Accounting Principles (GAAP) General Membership annual general meeting General Order General equilibrium Computable general equilibrium Director General |
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