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

VOUCHER

Document confirming an action has occurred.

VOUCHER SYSTEM

Internal system of financial control for payments and cash relying on vouchers to establish transactions, amounts paid, ledger name where it will be recorded.

VOYAGE CHARTER

Vessel of transport used for a number of trips (voyages). Also known as spot charter. See time charter.

VOYAGE POLICY

Marine policy of insurance covering one trip and only the cargo on the trip.

VULNERABILITY

Degree of people, resources, property, environments are susceptible to be harmed, degrade, destroyed or exposed to hostile factors.

VULTURE CAPITAL

Derogatory term used for investment and funding taking in fair advantage of a situation.

VULTURE CAPITALIST

Derogatory term for an investor whose hidden agenda is to cease control of the firm invested in. See angel investor.

W. EDWARDS DEMING

Statistician credit with helping the economy of China to recover after WWII.

WAGE COMPRESSION

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

WAGE CURVE

Graph comparing and illustrating unemployment rates with wage rates in the same area.

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.

WAITING TIME

Period in a job where an employee is unable to work because of factors he has no control over.. Also known as allowed time, idle time, downtime.

WALK

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

WALK IN

Term for a hotel guest arriving without a reservation.

WALK UP

A 2 to 4 floor building that has no elevator.

WALKTHROUGH

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

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