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

Category: W

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.

WHOLE LOAN

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

WADSETTER

In Scotch law. A creditor to whom a wadset is made, corresponding to a mortgagee.

WALAPAUZ

In old Lombardic law. The disguising the head or face, with the intent of committing a theft

WARDA

L. Lat. In old English law. Ward ; guard; protection ; keeping; custody. Spelman. A ward; an infant under wardship. Id. In old Scotch law. An award; the judgment .of a court.

WARRANTIA CUSTODL

An oldEnglish writ, which lay for him who was challenged to be a ward to another, In respectto land said to be holden by knight- service; which land, when it was bought

WASTE-BOOK

A book used by merchants, to receive rough entries or memorandaof all transactions in the order of their occurrence, previous to their being posted in thejournal. Otherwise called a “blotter.”

WEALTH

All material objects, capable of satisfying human wants, desires, or tastes,ha ring a value in exchange, and upon which human labor has been expeuded; i. e.,which have, by such labor, been either

WERZGELT THEF

Sax. In old English law. A robber who might be ransomed. Fleta.lib. 1, c. 47,

WHEREAS

A word which implies a recital of a past fact. The word “whereas,” whenit renders the deed senseless or repugnant, may be struck out as impertinent, and shallnot vitiate a deed in

WHOLESALE

To sell by wholesale is to sell by large parcels, generally in originalpackages, and not by retail.

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