GAAP

What GAAP means

Put simply, gaap is part of the working vocabulary of a civil case. The short definition above covers the usual meaning. Still, a specific rule, statute or contract can give it a narrower meaning. For that reason, check how it is used in your own documents.

Where gaap comes up

The term is used across many kinds of cases. For example, you may see it in pleadings, motions and court orders. To see it in context, browse the motions and procedures library or the Learn the Law topics.

How to research the term

To research gaap, begin with the rule, statute or contract where the word is used. Each one can give it a slightly different meaning. Then compare that text with how courts in your area have applied it. Also check the local rules of your court, since they can add requirements. If your case is in state court, the state rules control. So start with our state procedures guide to find them. In the end, always confirm that the source you rely on is current.

You can read the current federal court rules online for free.

Related legal terms

• Fractional reserve banking: a banking system in which banks hold only part of their deposits as reserves and lend the rest.
• Fraud: a knowing misrepresentation or concealment of a material fact, made to induce another person to act, on which the person justifiably relies to his or her harm.
• Frivolous: lacking any arguable basis in law or fact.
• Full faith and credit: two different ideas.

Why precise terms matter

Courts read legal terms closely. As a result, knowing the exact meaning of a word helps you follow orders, rules and filings. Each glossary entry on Lawtopolis is short on purpose and links to the pages where the term is used.