business law

warranty of merchantability

A warranty of merchantability is a type of warranty that asserts that the goods are reasonably fit for its ordinary and intended purpose for which they are sold.

An implied warranty of merchantability is defined in U.C.C. §...

Watered stock

Definition

Stock that is sold with a face value that is much greater then its actual (market) value. While watered stock may appear to be a good value, due to corporation laws, the stock holder may be exposed to liability up to the face value (rather...

well-known seasoned issuer (WKSI)

Well-known seasoned issuer (WKSI) is a category of issuer which allows greater flexibility in accessing U.S. public markets.

Qualification as a well-known seasoned issuer

For an issuer to qualify as a WKSI, they must...

whistleblogger

A whistleblogger is a whistleblower who uses a web blog or similar internet-based forum to raise concerns about a person or entity’s misconduct or wrongdoing. Among other topics, whistlebloggers may speak about corruption, a violation of the...

white-collar crime

Overview

White-collar crime generally encompasses a variety of nonviolent crimes usually committed in commercial situations for financial gain.

The following is an inclusive list of white-collar offenses : antitrust violations, bankruptcy...

will contract

Though transfers by will are normally donative, it is possible to use a will to form an obligatory, legally enforceable contract. A will contract is created when a promise is made and supported by consideration to leave property by will to the promisee...

winding up

The settlement of debts and liquidation of assets, done with the goal of dissolving a partnership or corporation.

See: dissolution of corporation.

winding up a corporation

Definition

See: dissolution of corporation.

withdrawal of a corporation

Definition

See: dissolution of corporation.

wrongful termination

Wrongful termination is a terminated employee's claim that the firing breached an employment contract or some public law.

Where an employment contract requires termination only for cause, a terminated employee can sue for arbitrary discharge....

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