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without recourse

Without recourse is a phrase meaning that one party has no legal claim against another party. It is often used in two contexts:

In litigation, someone without recourse against another party cannot sue that party, or at least cannot...

witnesseth

Witnesseth is legal jargon for the term witness. The general meaning is “to take notice of” or “to witness.” With the passing of time, the usage of the term “witnesseth” has declined but it is still used in contracts to make them look more...

workers compensation

Workers' compensation laws protect people who become injured or disabled while working at their jobs. The laws provide the injured workers with fixed monetary awards, in an attempt to eliminate the need for litigation. These laws also provide...

workout

A workout is an arrangement negotiated between a debtor and creditor to manage and resolve a debt, either by paying it off or through loan forgiveness. It is a mutual agreement entered into by a borrower and a lender to reschedule the terms...

world wide web (www)

The World Wide Web (WWW), often known as WWW, W3, or the Web, is the most widely used software platform on the globe. Tim Berners-Lee proposed the architecture of what became the World Wide Web. It is an information-based environment where...

write-off

A write-off is an accounting action that removes an asset from the books, typically as a loss or expense, when it is deemed uncollectible or obsolete. This action reduces the value of the asset while simultaneously debiting a liabilities...

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....

yellow dog contract

A yellow dog contract is an agreement between an employer and an employee in which the employee agrees not to join or remain a member of a labor union as a condition of employment. Historically, these contracts were used in the early 20th...

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