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

WEIGHTED AVERAGE

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

WEIGHTING

Technique where some data is more emphasized than other in a summary or group.

WELFARE

1. Resources and conditions needed for healthy and comfortable living. 2. Government support for members of society who are disadvantaged.

WELL STRUCTURED PROBLEM

Problem where desired and current state is identified clearly and reaching desired state is obvious. See ill structured problem.

WESTERN UNION

Financial services corporation specializing in money transfer. Based in US but used around the world. In business since 1851.

WET BASIS

Formula where the weight of an article wet is divided by weight of an article dry and multiplied by 100 giving a % weight increase.

WET LEASE

Leasing agreement where multiple services to the lessee of the property.

WET LOAN

Mortgage arrangement where settlement occurs simultaneously with document signing.

WETLAND

Low lying area with permanent or intermittent water. Important for water birds and animals.

WETTABILITY

Surface’s property to allow a liquid to get through dust on top of it and stick to the substrate. See wetting and wetting ability.

WETTING

Act of a fluid spreading over a solid surface or other fluid, penetrating a porous surface and loosening trapped grime.

WETTING ABILITY

Ability of a fluid to spread uniformly over the surface of another or a sold, and form a thin continuous film.

WETTING AGENT

Material lowering a fluids surface tension so it can clean or get into another substance.

WHARF

Area providing protection for a berthing space for sea going vessels. See jetty and quay.

WHERE IS AS IS

Sale offer quote for large equipment opt large lots that the buyer will need to transport.

WHILE CLAUSES

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

WHISPER NUMBER

Unpublished opinion in the investment community about a firm’s possible forthcoming earnings.

WHITE COLLAR CRIME

Fraud and crime committed by managerial and administrative personnel, professionals and public servants.

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