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

Category: W

WRONGFUL DEATH ACTION

Civil law suit filed by the deceased survivors against the organization or person felt to be responsible.

WRITER

1. General. Bill of exchange drawer. 2. Insurance. Underwriter. 3. Options trading. Option contract seller. Also known as option seller.

WAGE COMPRESSION

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

WAR RISK

Possibility of loss, damage to anything from any remains of war like hostilities.

WET LEASE

Leasing agreement where multiple services to the lessee of the property.

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.

WAGE CURVE

Graph comparing and illustrating unemployment rates with wage rates in the same area.

WAREHOUSE RETAILING

Mass detailing of goods by a store offering little customer service but low prices.

WEB DESIGN

Describes all of the tasks needed to create an HTML driven web page to be displayed on the WWW.

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