commercial activities

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...

Wells Notice

A "Wells Notice" is a letter sent by a securities regulator to a prospective respondent, notifying him of the substance of charges that the regulator intends to bring against the respondent, and affording the respondent with the opportunity to submit a...

Wells Submission

A response to a Wells Notice. A Wells Notice warns a person or business of possible enforcement action by the U.S. Securities and Exchange Commission (SEC). In a Wells Submission, the person or business so warned has the opportunity to present facts...

whole life insurance

Definition

Life insurance coverage that runs for the insured’s natural life. Whole life insurance provides both term life insurance and a savings plan (i.e., accumulation of “cash value” or “surrender value”) that allows for the insured, at any...

wildcard exemption

Definition from Nolo’s Plain-English Law DictionaryAn exemption that allows a debtor to apply a certain dollar amount to any type of property to make it -- or more of it -- exempt.

Definition provided by Nolo’s Plain-English Law Dictionary.

WIPO Copyright and Performances and Phonograms Treaties Implementation Act

Title I of the Digital Millennium Copyright Act, the “WIPO Copyright and Performances and Phonograms Treaties Implementation Act of 1998” added Chapter 12, Copyright Protection and Management Systems, to the Copyright Act.

At the time of the DMCA...

Without recourse

A phrase meaning that one party has no legal claim against another party. It is often used in two contexts:

1. In litigation, someone without recourse against another party cannot sue that party, or at least cannot obtain adequate relief even...

workout

Definition from Nolo’s Plain-English Law DictionaryAn arrangement negotiated between a debtor and creditor as a way to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure...

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