A warranty adjustment program, also known as a secret warranty program, is a service provided by car manufacturers to address defects in their vehicles without initiating a formal recall. These programs allow for repairs, replacements, or...
wex definitions
warranty deed
A warranty deed is a legal document used in real estate transactions where the grantor (seller) guarantees clear title to the property being sold. It assures the grantee (buyer) that the property is free from any liens, encumbrances, or...
warranty of fitness
A warranty of fitness, also known as a fitness for a particular purpose warranty, is a type of warranty that ensures goods are suitable for the buyer’s specific intended use. This warranty goes beyond general fitness for ordinary purposes,...
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. §...
wash sale
A wash sale is defined as the sale of an asset, such as stocks or bonds, at a loss, followed by the repurchase of the same or substantially similar asset within 30 days before or after the sale. This method is often used to realize a loss for...
Washington DC Voting Rights Amendment
The Washington D.C. Voting Rights Amendment, proposed by Congress in 1978, aimed to provide the District of Columbia with full representation in the U.S. Congress, including voting rights in both the House of Representatives and the Senate,...
waste
In a legal context, waste refers to the misuse, destruction, alteration, or neglect of real property by someone who holds an interest in it, such as a tenant or life tenant, without the consent of the other owners or parties with an interest...
watered stock
Watered stock refers to shares issued by a corporation in exchange for assets that undercompensate for the stock’s value. This issue was prominent in the early 20th century when investors relied on the par value of stocks, which ensured a...
Watkins v. United States (1957)
Watkins v. United States (1957) is the U.S. Supreme Court case holding that the Due Process Clause of the Fifth Amendment limits Congress’s ability to conduct investigations, namely its ability to require testimony on inquiries unrelated to...
weight of evidence
The weight of evidence refers to the believability or persuasiveness of evidence in terms of its probative value, not the quantity or amount. It is determined by its effect in inducing belief, rather than by mathematics. In State v. Thomas,...