grandfathering

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Related to grandfather: Grandfather paradox

Grandfather Clause

A clause in a new law, regulation, or anything else that exempts certain persons or businesses from abiding by it. For example, suppose a country passes a law stating that it is illegal to own a cat. A grandfather clause would allow persons who already own cats to continue to keep them, but would prevent people who do not own cats from buying them. Grandfather clauses are controversial, but they are also relatively common.

grandfathering

An alteration of the rules that apply to a certain investment or investment technique while stipulating that investment actions taken before a certain date remain subject to the old rules. For example, Congress may change the law by stipulating that certain types of municipal bonds no longer pay tax-free interest while at the same time grandfathering the municipal bonds issued before the date on which the new law is to take effect.

grandfathering

An expression used to describe a statutory or contractual willingness to allow some activities or former rights to continue even though not technically allowed under current conditions. For example, downtown zoning regulations no longer allow gas stations in the area, but Fred's Fuel was doing business before the zoning laws went into effect,so it is grandfathered and can stay in business.

References in classic literature ?
But, on the other hand, had not a whole Community believed Maule's grandfather to be a wizard?
I have known him do it," says Grandfather Smallweed incautiously, "twenty times.
Ha'n't you no relations, now," asks Grandfather Smallweed with a twinkle in his eyes, "who would pay off this little principal or who would lend you a good name or two that I could persuade my friend in the city to make you a further advance upon?
says Grandfather Smallweed with a plain appearance of exasperation.
George, but still looking at Judy as if she being so old and so like her grandfather it is indifferent which of the two he addresses, "you gentlemen took me in.
The broken-spirited, old, maternal grandfather was likewise subject to the little tyrant.
Phoebe unfolded herself from the car and hung back uncertainly as Grandfather wrapped his enormous arms around the tiny lady.
His grandfather found himself stranded on the beaches at Anzio, surrounded by Germans.
Joye Walkus wore a 300-year-old blanket belonging to her late grandfather Henry Abel Bell to her convocation ceremony at the University of Victoria.
I was a Brooklyn boy lost in the Puerto Rico of my grandfather,
A MAN has denied that he had defrauded his elderly grandfather of thousands of pounds.
My grandfather, Albert Hulme, lived in Hughstead Grove, Garston.