An unseasoned issuer is any issuer subject to period reporting requirements, i.e. is a public company, but who is not eligible to file a Form S-3 or a Form F-3 for a primary offering, i.e. is not a seasoned issuer or a well-known seasoned...
business law
usage of trade
Under Article 2 of the Uniform Commercial Code usage of trade is often used to aid in interpreting contracts and to give terms particular meanings. A usage of trade is a practice or method of dealing having such regularity of observance in a...
usurious
Usurious is an adjective that means practicing, constituting, or amounting to usury; charging an illegally high interest rate on a loan.
[Last updated in August of 2021 by the Wex Definitions Team]
usury
Usury is interest that a lender charges a borrower at a rate above the lawful ceiling on such charges; a contract upon the loan of money with an illegally high interest rate as a condition of the loan. Usury is also the act of making a loan...
valuable consideration
Valuable consideration broadly refers to a sufficient price paid by a party in exchange for something in a contract or sale. The “valuable” description of consideration also may mean that the consideration is monetary in contrast to other...
variable annuity
A variable annuity is an annuity — periodic payments to a recipient — that vary in amount based on the performance of the underlying investments. Variable annuities are tax-deferred and a person does not have to pay any taxes on the income or...
vendee
A vendee is a person who purchases something being sold, or a buyer. Most commonly, a buyer of real property is often referred to as a vendee. A vendee can also refer to the buyer in all other transactions. For example, a buyer of a house and...
vendor
A vendor is a seller of a good, service, or real property. A vendor can also refer to a seller in any other transaction. For example, in a transaction in which company A is purchasing company B’s products, then company B is the vendor. The...
vertical privity
In business law, vertical privity is the relationship between companies in a distribution chain (e.g. a manufacturer and a distributor). Those in vertical privity are jointly liable for product defects in the vertical chain.
...vitiate
Vitiate is the act of impairing or voiding the effect of something else. Thus, a statute that vitiates a contract has the effect of voiding at least one of the contract's provisions.
[Last updated in July of 2024 by the Wex...