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

Category: W

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.

WALL TO WALL

Covering a room’s floor or stretching across the room.

WASH SALE RULE

Referring to an IRS regulation governing how capital loss from investments is recognized. Also called wash rule.

WAYBILL

Shipping document travelling with shipment showing consigner and consignee, origin, destination, goods involved, weight and freight.

WEIGHTED AVERAGE

Mean where each item averaged is multiplied by a number based on its importance relative to others. Also known as weighted mean.

WHILE CLAUSES

Clause that stipulates cover is suspended while things are occurring on the property.

WIDE ECONOMIC MOAT

Company’s advantage over its competition able to be exploited for profit over time.

WITH PREJUDICE

Law phrase. (1) a dismissed case cannot be tried again, (2) court order is final. See without prejudice.

WORK PRODUCT

Outcome needed to be produced to finish a project and meet objectives.

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