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Mortgage Dictionary

"W"

Warranty


Warranty is assurance that is not vital to the contract (unlike condition), such that a violation of warranty will not result in the termination of the contract.

Working Capital


An indication of how much money would remain once all current liabilities were paid. It is calculated by determining the difference between current assets and current liabilities.

Writ


Writ is a form of written command in the name of sovereign, state, court, etc. Writ issued to an official or other person and directing him or her to act or abstain from acting in some way. Writ

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