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

Category: W

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,

WEINER PROCESS

The process of comparing value to variable changes in the market. Part of the markov process. It is used in pricing options.

WET BARRELS

Physical barrels delivered rather than financially settled. It is used in refining and supply trades.

WHENISSUED (WI) SECURITY

A security announced but not priced. It is informal but legally binding. When settled it trades like any seasoned security. Refer to to be announced and when issued treasury.

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.

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

WAKENING

In Scotch law. The revival of an action. A process by which an action that has lain over and not been insisted in for a year and a day, and thus technically

WARD

1. Guarding; care; charge; as, the ward of a castle; so in the phrase “watch and ward.” 2. A division in the city of London committed to the special ward (guardianship) of

WARRANTIA CHARTS

In old practice. Warranty of charter. A writ which lay for onewho, being enfeoffed of lands or tenements, with a clause of warranty, was afterwardsimpleaded in an assize or other action in

WATER N 0 U W

ant who has committed waste of the premises. There were anciently several forms ofthis writ, adapted to the particular circumstances.

WEALREAF

In old English law. The robbing of a dead man in his grave.

WERA, or WERE

The estimation or price of a man, especially of one slain. In thecriminal law of the Anglo-Saxons, every man’s life had its value, called a “were,” or”capitis cestimutio.”

WHENEVER

This word, though often used as equivalent to “as soon as,” is alsooften used where the time intended by it is, and will be until its arrival, or for some uncertainperiod, at

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