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

Category: W

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.

WORKING

1. Actively engaged in inactivity in exchange for money. 2. Temporary status noting something is in transition. 3. State of being.

WORLD WIDE WEB (WWW)

The collected group of internet resources, audio, video, hyperlinked text that is accessed by remote browsers that are based on standards like HTTP, TCP/IP.

WAR CHEST

Cash held for the purpose of overtaking another company. Or funds held to prevent hostile takeover.

WILLINGNESS TO PERFORM

The promise to perform agreed to financial obligations. If the party feels mistreated they may choose not to. Refer to ability to perform.

WARRANT

A long term option issued as a private instrument with a bond. This lowers funding costs. Refer to exwarrant, covered warrant, and bond with warrant.

WINDOW DRESSING

Changing the appearance on financial statements to make a company look better. It is ethically questionable.

WATERED STOCK

Stock of a company whose assets are overvalued. The price does not accurately represent the companies position.

WITHOUT

When only a oneway quote is available for a security.

WEAK HANDS

A holder of a derivative contract that plans to close out before maturity. Retail investors are commonly weak hands. Refer to strong hands.

WORKING CAPITAL

The shortterm operating resources of a company. Refer to loan, gross working and net working capital.

WEATHER BOND

When weather risks cause securitization. These risks can be temperature or percipitation. This is not the result of a catastrophe. Repayment stops when loss causing weather damages crops. Refer to catastrophe bond,

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