Business Law Glossary: W
Warranty: A written statement stating good quality merchandise, clear title to real estate or that a fact stated in a contract is true.
Whistleblower: The term for an employee who "blows the whistle" on an employer. In other words, an employee is reporting to the authorities an employer's illegal action or practice. Whistleblowers are entitled to a number of protections under state and federal law.
Winding Up: The process of paying creditors and distributing assets that occurs before the dissolution of a corporation.
Witness: One who testifies at a trial or a deposition.
Written Consent: A document executed by either the shareholders or directors of a corporation in lieu of a formal meeting.
Wrongful Death Statues: Laws giving the family members of a deceased a cause of action if the death of their loved one resulted because of another's negligence.
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