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

Category: W

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.

WHENISSUED TREASURY (WIT)

Treasury bills that are announced but not yet priced. Upon settling they will sell as any treasury bill would. Refer to to be announced and when issued security.

WHIPSAW

When security price falls causing a stop loss order. The price will rebound. Or a raise in price that trigger purchases lowering stock price.

WHISPER NUMBERS

Releasing corporate earnings before a full public announcement. The US limits this by prohibiting selective disclosure.

WHISPER STOCK

Stock of a target company of hostile takeover. Price and volume will be erratic due to the rumor.

WHISTLEBLOWER

An employee who turns against their superiors to bring an problem out in the open.

WHITE SQUIRE

A friendly company that takes partial control of a company. Refer to black, gray, and white knights.

WHOLE LOAN

A mortgage sold with servicing rights to an investor. They are sometimes sold to conduits for securitization purposes.

WIDOWS AND ORPHANS

An unsophisticated investor. They are protected from fraud or bad advice. Refer to aunt millie.

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.

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