In general, a warranty is a promise, assurance, or statement made by the warrantor regarding the existence or accuracy of specific facts or the condition, quality, quantity, or nature of a good or property. There are express and implied...
wex definitions
warranty adjustment program
Warranty adjustment program (also called a secret warranty program) is a service provided by car manufacturers when their vehicles have some form of defect. Manufacturers create warranty adjustment programs to try to avoid recalling a vehicle...
warranty deed
A type of deed where a grantor guarantees that the grantor holds clear title to a parcel of real estate and has a right to sell it to the grantee.
warranty of fitness
A warranty of fitness is a type of warranty that asserts that the goods are suitable for the special purpose of the buyer, and such warranty will not be satisfied by mere fitness for general purposes. While the good may be fit for its...
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
Wash sale is defined as selling of an asset such as stocks or bonds on a loss and repurchasing of other stocks or bonds of substantially similar nature within a very short period of time frame. This method is often used to realize a loss, so...
Washington DC Voting Rights Amendment
The Washington D.C. Voting Rights Amendment was a proposed amendment by Congress in 1978 to the U.S. Constitution giving Washington D.C. similar representation to states in the national government. Currently, as set out in the 23rd amendment...
waste
When a person (ie. a tenant or a life tenant) who is merely in possession of property, abuses, destroys, or permanently changes the property.
watered stock
Watered stock refers to any stock issued by a corporation to someone in exchange for assets that under-compensate for the stock. The issue was a larger problem in the early 20th century when investors depended on the par value of stocks which...
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...