Legal Dictionary

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  1. W-2 Form

    An IRS form from employers which reports income earned by an employee during the related calander year.
  2. Wacreour

    L. Fr. A vagabond or vagrant. Britt C. 29.
  3. Wade-Davis Bill

    The Wade–Davis Bill of 1864 was a bill proposed for the Reconstruction of the South written by two Radical Republicans, Senator Benjamin Wade of Ohio and Representative Henry Winter Davis of Maryland. In contrast to President Abraham Lincoln's more lenient Ten Percent Plan, the bill made re-admittance to the Union for former Confederate states contingent on a majority in each Southern state to take the Ironclad oath to the effect they had never in the past supported the Confederacy. The bill [...]
  4. Wadia

    Same as Guadia.
  5. Wadset

    In Scotch law. The old term for a mortgage. A right by which lands or other heritable subjects are impignorated by the proprietor to his creditor in security of his debt. Wadsets are usually drawn in the form of mutual contracte, in which one party sells the land, and the other grants the right of reversion. Ersk. Inst. 2, 8, 3.
    Scotch law. A right, by which lands, or other heritable subjects, are impignorated by the proprietor to his creditor in security of his debt; and, like other heritable rights, is perfected by seisin. 2. Wadsets, by the present practice, are commonly made out in the form of mutual contracts, in which one party sells the land, and the other grants, the right of reversion. Ersk. Pr. L. Scot., B. 2, t. 8, s. 1, 2. 3. Wadsets are proper or improper. Proper, where the use of the land shall go for [...]
  6. Wadsetter

    In Scotch law. A creditor to whom a wadset is made, corresponding to a mortgagee,
    Scotch law. A creditor to whom a wadset is made. TO WAGE, contracts. To give a pledge or security for the performance of anything; as to wage or gage deliverance; to wage law, &c. Co. Litt. 294. This word is but little used.
  7. Waftors

    Conductors of vessels at sea. Cowell.
  8. Waga

    In old English law. A weigh; a measure of cheese, salt, wool, etc., containing two hundred and fifty-six pounds avoirdupois. Cowell; Spelman.
  9. Wage

    A wage is monetary compensation (or remuneration, personnel expenses, labor) paid by an employer to an employee in exchange for work done. Payment may be calculated as a fixed amount for each task completed (a task wage or piece rate), or at an hourly or daily rate, or based on an easily measured quantity of work done. Wages are examples of expenses that are involved in running a business. Payment by wage contrasts with salaried work, in which the employer pays an arranged amount at steady [...]
    In old English practice. To give security for the performance of a thing. Cowell.
    The compensation agreed upon by a master to be paid to a servant or any other person hfred to do work or business for him. In maritime law. The compensation allowed to seamen for their services on board a vessel during a voyage. In political economy. The reward paid, whether in money or goods, to human exertion, considered as a factor in the production of wealth, for its co-operation in the process. "Three factors contribute to the production of commodities,—nature, labor, and capital. Each [...]
    Usually restricted to sums paid as hire to those employed in manual occupations. See 239 111. 352, 130 Am. St. Rep. 234, 28 L. R. A. (N. S.) 1108, 88 N. E. 152.
    Payment, usually financial, that an employee or worker recieves in exchange for their work or labor from their employer.
    Contract. A compensation given to a hired person for his or her services. As to servants wages, see Chitty, Contr. 171 as to sailors' wages, Abbott on Shipp. 473; generally, see 22. Vin. Abr. 406; Bac. Abr. Master, &c., H; Marsh. Ins. 89; 2 Lill. Abr. 677; Peters' Dig. Admiralty, pl. 231, et seq.
  10. Wage And Price Controls

    Government measures to control wages to check cost push and wage push inflation.
  11. Wage And Tax Statement

    Referred to as W2. Shows deductions and earnings.
  12. Wage Attachment

    See: Attachment
  13. Wage Compression

    Wage compression refers to the empirical regularity that firms, given their wage policies, prefer better workers over poorer workers for any given job. This causes them to offer higher wages to new workers than those that are given to existing workers. This implies that more productive workers are relatively underpaid, compared to less productive workers holding the same job. Frazis and Loewenstein (2006) find that “only 32 percent of differences in starting productivity are reflected in [...]
    Inequities in wages arising from new employees who want more money than current employees. See wage expansion.
  14. Wage Curve

    The wage curve is the negative relationship between the levels of unemployment and wages that arises when these variables are expressed in local terms. According to David Blanchflower and Andrew Oswald (1994, p. 5), the wage curve summarizes the fact that "A worker who is employed in an area of high unemployment earns less than an identical individual who works in a region with low joblessness."
    Graph comparing and illustrating unemployment rates with wage rates in the same area.
  15. Wage Determination

    A US President's government initiative that is part of the Integrated Acquisition Environment. It uses a single location to decide the wage for each federal position.
  16. Wage Dispersion

    In economics, wage dispersion is the amount of variation in wages encountered in an economy.
  17. Wage Earner

    One who earns his living by labor of a menial or mechanical kind or performed in a subordinate capacity, such as domestic servants, mechanics, farm bands, clerks, orters, and messengers. In the United States ankruptcy act of 1898, an individual who works for wages, salary, or hire, at a compensation not exceeding $1,500 per year. See In re Pilger (D. C.) 118 Fed. 206; In re Gurewitz, 121 Fed. 982, 58 a C. A. 320.
  18. Wage Earner Protection Program Act

    The Wage Earner Protection Program Act (S.C. 2005, c. 47, s.1), is an Act of the Parliament of Canada. It was part of a package of reforms to the insolvency law of Canada that were brought into force in 2008 and 2009 to compensate employees of companies made bankrupt or placed into receivership under the Bankruptcy and Insolvency Act. It was subsequently expanded in 2011 to cover employees who lose their jobs when their employer's attempt at restructuring subsequently ends in bankruptcy or [...]
  19. Wage Expansion

    Pay increases occurring when salaries rise to compensate for compression of wages when new employees wages are higher.
  20. Wage Freeze

    Government's attempt to slow a push for wages by keeping wages stable with a law.

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