Legal Definition and Related Resources of Good will
Meaning of Good will
The benefit which arises from the establishment of particular trades or occupations. The advantage or 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. Story, Partn. § 99. See 17 Ves. 336; 1 Hofif. Ch. (N. Y.) 68; 16 Am. Jur. 87. It includes only that estimation and repute which is peculiar to the particular establishment. It is that species of connection in trade which induces customers to deal with a particular firm.
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| Good Will in the Dictionary | Good Will in our legal dictionaries | Browse the Legal Thesaurus | Find synonyms and related words of Good Will |
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| Related topics | Good Will in the World Encyclopedia of Law |
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This definition of Good Will is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
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Synonyms of Good Will
noun
- altruism
- amity
- benefaction
- beneficence
- benevolence
- brotherhood
- charity
- cheerful consent
- cheerful willingness
- commercial advantage
- cordiality
- countenance
- customer approval
- customer encouragement
- earnestness
- established patronage
- established popularity
- established reputation
- favor
- favorable disposition
- friendly disposition
- geniality
- good nature
- helpfulness
- humanity
- kindness
- munificence
- patronage
- philanthropy
- public favor
- public support
- sponsorship
- support
- sympathy
- tolerance
- willingness
- Associated Concepts: impairment of good will
- sale and transfer of good will
Concept of Good Will in the context of Real Property
A short definition of Good Will: A salable asset of a business, based on its reputation rather than its physical assets.
Concept of Good Will in the context of Real Property
A short definition of Good Will: A salable asset of a business, based on its reputation rather than its physical assets.
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