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

Category: Finance

VALUE OF ENTRY

Total value of declared items on a duty entry form accepted by customs.

VALUES, ATTITUDES, AND LIFESTYLES SYSTEM (VALS-2)

Proprietary psychographic consumer segmentation system classifying people into 8 groups based on lifestyle. 1. Actualizes, 2, Fulfillers, 3. Achievers, 4. Believers, 5. Strives, 6. Experiencers, 7. Makers, 8. Strugglers.

VERSION

Releases of the same item with changes made along the way.

VIRTUOUS CIRCLE

Advantageous situation that self propagates. Successful solutions lead to more success and more etc. See vicious circle.

VITAL RECORD

Document, record or file in any format with information essential, necessary to create and organize operations and survival of an organization.

VOLENTI NON FIT INJURIA

Legal principle where one voluntarily and knowingly consents to take risks such as in dangerous sports.

VOYAGE CHARTER

Vessel of transport used for a number of trips (voyages). Also known as spot charter. See time charter.

WALKTHROUGH

Step-by-step test of all aspects of a plan, process, environment to verify readiness for operation.

WARSAW CONVENTION

Agreement of international civil aviation establishing the frame work for carrying cargo, luggage and passengers. Now overseen by International Civil Aviation Organization, ICAO.

WAVE LENGTH

Distance between successive and similar wave or trough points

WEIGHT TON

3 types of tons are used in shipping. 1. Long ton-2240 ponds, 2. Short ton-2000 pounds and 3. Metric ton-2204.68 pounds or 1000 kg.

WHERE IS AS IS

Sale offer quote for large equipment opt large lots that the buyer will need to transport.

WILLIE SUTTON RULE

Should focus on high yield activities and not waste time focusing on lower yield ones.

WITH PARTICULAR AVERAGE

Marine insurance. Where insured cargo is covered for partial damage from sea water or loss from breakages, theft etc.

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