white-collar crime
White-collar crime generally encompasses a variety of nonviolent crimes usually committed in commercial situations for financial gain.
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COMMERCE
whole life insurance
Whole life insurance (also referred to as permanent life insurance) refers to life insurance policies that are meant to last until death and have an investment aspect. As long as the person pays the required premiums, the insurance policy will provide a death benefit when the person dies.
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wildcard exemption
Wildcard exemption is one of a few exemptions the Federal government and state governments allow in bankruptcy that protects some of the debtor’s personal assets from creditors.
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will contract
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winding up
Winding up refers to the ending of operations of a business by settling debts, the liquidation of assets, and distributing the remaining proceeds to the shareholders of the partnersh
winding up a corporation
The process of dissolving a corporation or settling the affairs of a dissolved corporation. Winding up a corporation generally takes place when a corporation decides to end a business or declares bankruptcy.
withdrawal of a corporation
Withdrawal of a corporation, also referred to as dissolution of a corporation, is the termination of a corporate entity. The procedure could be conducted voluntarily or involuntarily. Ending a corporation becomes more complex with more owners and more assets.
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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:
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Taxonomy upgrade extras
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 formal.
[Last reviewed in July of 2024 by the Wex Definitions Team]
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 benefits for dependents of those workers who are killed because of work-related accidents or illnesses.
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