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

VOLT (V)

Metric unit of electrical potential. Equal to the steady flow of one amp current against one ohm of resistance

VOTING RIGHT

Delegable right of a common share holder to vote in decision making processes and to select board members.

VOTING STOCK

Common shares give the owner the right to vote at the AGM. Also known as voting shares.

VOSTRO ACCOUNT

Account in local currency held by a coal bank for a foreign bank.

WAGE COMPRESSION

Inequities in wages arising from new employees who want more money than current employees. See wage expansion.

WALLET

Apparel used to organize cash, credit cards and other small items important for daily use.

WALK

Hotel industry. Taking an arriving guest to another hotel as reserved accommodation is unavailable for a reason.

WARNING

Notice, admonition pointing out a danger to one unaware of any.

WALLED GARDEN

Environment attractively designed aimed at keeping a captive comfortable and satisfied.

WARM SITE

Disaster management term for an alternate business recovery site only partially equipped for business.

WALKTHROUGH

Step-by-step test of all aspects of a plan, process, environment to verify readiness for operation.

WAR CLAUSE

Releases the insurer from loss liabilities due to an act of war.

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.

WALL TO WALL

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

WAGE RATE

Pay rate based on units produced or time of working.

WAITING PERIOD

Period of time between filing a statement of registration and its effective date.

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