One who owns or keeps a wharf for the purpose of receiving andshipping merchandise to or from it for hire.
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W. EDWARDS DEMING
Statistician credit with helping the economy of China to recover after WWII.
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WADSET
In Scotch law. The old term for a mortgage. A right by which lands or other heritable subjects are impignorated by the proprietor to his creditor in security of his debt. Wadsets are usually drawn in the form of mutual contracts, in which one parly sells the land, and the other grants the right of reversion. Ersk. Inst. 2, 8, 3.
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WADSETTER
In Scotch law. A creditor to whom a wadset is made, corresponding to a mortgagee.
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WAGA
In old English law. A weigh; a measure of cheese, salt, wool, etc., containing two hundred and fifty-six pounds avoirdupois. Cowell; Spelman.
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WAGE
In old English practice. To give security for the performance of a thing. Cowell.
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WAGE AND PRICE CONTROLS
Government measures to control wages to check cost push and wage push inflation.
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WAGE COMPRESSION
Inequities in wages arising from new employees who want more money than current employees. See wage expansion.
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WAGE CURVE
Graph comparing and illustrating unemployment rates with wage rates in the same area.
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WAGE DETERMINATION
A US President’s government initiative that is part of the Integrated Acquisition Environment. It uses a single location to decide the wage for each federal position.
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WAGE EXPANSION
Pay increases occurring when salaries rise to compensate for compression of wages when new employees wages are higher.
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WAGE FREEZE
Government’s attempt to slow a push for wages by keeping wages stable with a law.
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WAGE PUSH INFLATION
Economics. Attributes a higher price to higher costs of labor that is handed on to the customers.
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WAGER
A wager is a contract by which two or more parties agree that a certain sum of money or other thing shall be paid or delivered to one of them on the happening of an uncertain event or upon the ascertainment of a fact which is in dispute between them. Trust Co. v. Goodrich, 75 111. 500; Jordan v. Kent, 44 How. Prac. (N. Y.) 207; Winward v. Lincoln, 23 R. I. 476, 51 Atl. 106, 64 L. R. A. 160; Edson v. Pawlet, 22 Vt 293; Woodcock v. McQueen, 11 Ind. 15. A contract in which the parties stipulate that they shall gain or lose upon the happening of an uncertain event in which they have no interest, except that arising from the possibility of such gain or loss. Ferreira v. Gab- ell, S9 Pa. 90; Kitchen v. Loudenback, 48 Ohio St 177, 26 N. E. 979, 29 Am. St. Rep. 540. See, also, BET.
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