  Results of somewhat mysterious nature are known on the location of zeros of
certain polynomials associated with statistical mechanics (Lee-Yang circle
theorem) and also with graph counting. In an attempt at clarifying the
situation we introduce and discuss here a natural class of polynomials. Let
$P(z_1,...,z_m,w_1,...,w_n)$ be separately of degree 1 in each of its $m+n$
arguments. We say that $P$ is a Grace-like polynomial if $P(z_1,...,w_n)\ne0$
whenever there is a circle in ${\bf C}$ separating $z_1,...,z_m$ from
$w_1,...,w_n$. A number of properties and characterizations of these
polynomials are obtained.
