Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: Finance

VESTING PERIOD

Period of time an employees needs to work to fully own company shares in a stock option plan.

VIENNA CONVENTION

Treaty that governs international trade defang rights of importers and exporters. Aloes known as UN Convention on Contracts for the International Sale of Goods.

VISION STATEMENT

Inspirational description of what the organization wants to achieve. See mission statement.

VOICE OF THE PROCESS

Statistical data that is generated by quality control measures and indicating stability of the process.

VOLUNTARY REDUNDANCY

Accepting termination of employment by the employer based on terms offered to the employee.

WAGE COMPRESSION

Inequities in wages arising from new employees who want more money than current employees. See wage expansion.

WAR CLAUSE

Releases the insurer from loss liabilities due to an act of war.

WATCH LIST

List of all securities a broker may consider to be the target of irregular trading activities.

WET BASIS

Formula where the weight of an article wet is divided by weight of an article dry and multiplied by 100 giving a % weight increase.

WHOLE LIFE INSURANCE

Life insurance policy covering death, builds a cash value, pays fixed benefit for death, has a constant premium. Also known as continuous premium whole life insurance, ordinary life insurance, permanent or straight

WINNER’S CURSE

An observation that the bidder winning an item often overvalues the item bid on.

WITHOUT PREJUDICE

Law phrase. Without abandonment of claim, right, privilege and without implied admission of liability.

WORKERS’ COMPENSATION

Financial support provided to an injured worker covering income, medical costs, rehabilitation or death from a work injury.

WROUGHT IRON

Type of iron with approximately 3% slag giving it a certain grain and look. Resistant to rust, suitable for forging and rolling than casting.

WRITE OFF

Accounting. Where an asset is uncollectable and considered to be a loss.

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