GUARANTEED ANNUAL WAGE PLAN

guaranteed annual wage plan.Labor law. A wage-payment method in which the employer agrees either to pay employees a predetermined minimum sum each year or to provide a minimum number of hours of employment each year. • A wide variety of guaranteed annual wage plans are used. For example, an employer may agree to pay employees…

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GUARANTEE CLAUSE

guarantee clause. 1. A provision in a contract, deed, or mortgage by which one person promises to pay the ob-ligation of another. [Cases: Mortgages 111. C.J.S. Mortgages § 74.] 2. (cap.) U.S. Const. art. IV, § 4, under which the federal government ensures for the states both a republican form of government and protection from…

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GUARANTEE

guarantee (gar-<>n-tee), n.1. The assurance that a contract or legal act will be duly carried out. 2.GUARANTY(1). “In practice, guarantee, n., is the usual term, seen often, for example, in the context of consumer warranties or other assurances of quality or performance. Guaranty, in contrast, is now used primarily in financial and banking contexts in…

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GSA

GSA.abbr.GENERAL SERVICES ADMINISTRATION. [Blacks Law 8th]

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