COMMERCE

Winding up refers to the ending of operations of a business by settling debts, the liquidation of assets, and distributing the remaining proceeds to the shareholders of the partnersh

• llcs-corporations-partnerships

The process of dissolving a corporation or settling the affairs of a dissolved corporation. Winding up a corporation generally takes place when a corporation decides to end a business or declares bankruptcy.

• llcs-corporations-partnerships

Withdrawal of a corporation, also referred to as dissolution of a corporation, is the termination of a corporate entity. The procedure could be conducted voluntarily or involuntarily. Ending a corporation becomes more complex with more owners and more assets.

• llcs-corporations-partnerships

Without recourse is a phrase meaning that one party has no legal claim against another party. It is often used in two contexts:

Witnesseth is legal jargon for the term witness. The general meaning is “to take notice of” or “to witness.” With the passing of time, the usage of the term “witnesseth” has declined but it is still used in contracts to make them look more formal.

[Last reviewed in July of 2024 by the Wex Definitions Team] 

Workers' compensation laws protect people who become injured or disabled while working at their jobs. The laws provide the injured workers with fixed monetary awards in an attempt to eliminate the need for litigation. These laws also provide benefits for dependents of those workers who are killed because of work-related accidents or illnesses.

• contract law
• compensation
• Workers’ Compensation
• employment law

A workout is a mutual agreement negotiated between a debtor and creditor to manage and resolve a debt without resorting to formal bankruptcy proceedings.

The World Wide Web (WWW), often known as WWW, W3, or the Web, is the most widely used software platform on the globe. Tim Berners-Lee proposed the architecture of what became the World Wide Web. It is an information-based environment where users may access documents and other resources through the Internet using a web browser, allowing users to search for information by going from one page to the next.

A write-off is an accounting action that removes an asset from the books, typically as a loss or expense, when it is deemed uncollectible or obsolete.

Wrongful termination is a terminated employee's claim that the firing breached an employment contract or public policy.