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

Category: Finance

WEIGHT THRESHOLD

Cargo weight where a standard rate of freight begins to decline. Also known as weight break.

WHARF

Area providing protection for a berthing space for sea going vessels. See jetty and quay.

WITH PARTIAL RECOURSE

Legal term. Seller has the responsibility to reimburse the buyer an agreed upon part of the overall loss from the non-performing asset.

WORK LETTER

Statement from landlord to tenant defang items included in the property when rented.

YELLOW FEVER

Spread of a viral infection by mosquitoes infected in Tropical Africa, South America and the Caribbean causing degeneration of liver and kidney tissues.

ZOMBIE DEBT

Term describing old debts bought to life by actions of collecting it.

UNFAIR LABOR PRACTICE

Action legally prohibited by an employer or union such as a refusal to discuss matters in good faith.

UNIFORM DELIVERED PRICING (UDP)

Price that includes costs of transport where a seller retains title until goods are given to the customer. Single and multi zone pricing.

UNINSURED MOTORIST COVERAGE

Added cover in a automobile policy compensating for damage and loss with a hit and run driver or one with no insurance policy.

UNITIZATION

1. Combination of cartons, boxes, pails, etc., in one load ready for transport with ease of handling and identification. See containerization. 2. Converting an investment company to a unit trust.

UNLIMITED WANTS

Part of human nature where we want many things but are unable to afford them all.

UPSELLING

Selling strategy where seller will provide opportunities to buy other products and services just to make a bigger sale.

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