Willful or wanton disregard
Willful or wanton conduct means the actions of one party were done with a conscious and reckless disregard for another person's safety. This standard applies to both intentional harm and negligent actions, and requires a plaintiff...
DefinitionWar bonds are debt securities issued by a government to finance military operations and other expenditure in times of war. War Bond What is a 'War Bond' A war bond consists of debt securities issued by a...
What is 'War Damage Insurance Corporation' A government financial protection arm created during World War II to provide coverage for war risks that were not being covered by existing policies. The coverage was provided by the U.S....
What is a 'Waiver' A waiver is the voluntary action of a person or party that removes that person's or party's right or particular ability in an agreement. The waiver can either be in written form or...
Wear And Tear Exclusion What is 'Wear And Tear Exclusion ' A provision of an insurance contract that states that the normal, expected deterioration of the insured object will not be covered by the policy. Wear...
What is 'Warm Calling'
The solicitation of a potential customer with whom a sales representative or business has had prior contact. Warm calling refers to a sales call, visit or email that is preceded by some sort of contact with...
What is 'Wasting Trust' A trust that holds plan assets when a qualified plan is frozen. A "wasting trust" derives its name from the fact that its assets get depleted over time, since plan participants continue to...
What is 'Walrasian Market' An economic model of a market process in which orders are collected into batches of buys and sells and then analyzed to determine a clearing price that will decide the market price. Also...
What is water pollution liability
Water pollution liability is the legal responsibility for damages caused by the contamination of bodies of water. This can include both surface water (lakes, rivers, and oceans) and groundwater (underground aquifers). Water pollution can come...
What is 'Wasting Asset' An item that irreversibly declines in value, as a function of time. Wasting assets include vehicles, machinery and other fixed assets. Accountants attempt to quantify the amount that assets decrease in value over...