commercial activities

usurious

Usurious is an adjective that means practicing, constituting, or amounting to usury; charging an illegally high interest rate on a loan.

[Last updated in August of 2021 by the Wex Definitions Team]

usury

Usury is interest that a lender charges a borrower at a rate above the lawful ceiling on such charges; a contract upon the loan of money with an illegally high interest rate as a condition of the loan. Usury is also the act of making a loan...

valuable consideration

Valuable consideration broadly refers to a sufficient price paid by a party in exchange for something in a contract or sale. The “valuable” description of consideration also may mean that the consideration is monetary in contrast to other...

variable annuity

A variable annuity is an annuity — periodic payments to a recipient — that vary in amount based on the performance of the underlying investments. Variable annuities are tax-deferred and a person does not have to pay any taxes on the income or...

variable life insurance

Variable life insurance is a form of whole life insurance that accumulates cash value on a tax-deferred basis. Variable life insurance operates similarly to a mutual fund because the insured pays premiums that go into a separate investment...

variable universal life insurance

Variable universal life insurance refers to universal life insurance policies where the policy holder chooses how the cash value of the account is invested. Like any universal life insurance, these policies allow flexible premiums and death...

vertical privity

In business law, vertical privity is the relationship between companies in a distribution chain (e.g. a manufacturer and a distributor). Those in vertical privity are jointly liable for product defects in the vertical chain.

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Vessel Hull Design Protection Act

Title V of the Digital Millennium Copyright Act, the Vessel Hull Design Protection Act, provides sui generis protection for an “original design of a useful article” (where “useful article” is limited to boat hulls). It was intended to replace the...

video news release

Video news releases, also known as prepackaged news stories, are video segments created or funded by private corporations or government agencies to be indistinguishable from standard news programs. When broadcast on the air without disclosure of the...

Volcker Rule

The Volcker Rule refers to a broad set of rules adopted under Dodd-Frank Title VI that attempts to reduce risk within banking institutions, stemming from mixing investment banking and commercial banking. The Volcker Rule consists of two major...

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