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Wainscot
or Wainscoting
A
paneling style which is traditionally constructed
from tongue-and-groove boards, though beadboard
or decorative panels are also common. Wainscoting's
original purpose was to cover the lower part
of walls in houses constructed with poor or
nonexistent damp-proof walls. Wainscot was
brought to the United States by early English
settlers. A very popular style of wainscot
is "beadboard wainscot" which can
give a room character and personality.
Waiver
The intentional relinquishment of a known
right, claim or privilege.
Warranty
A legal, binding, promise, given at the time
of a sale, whereby the seller gives the buyer
certain assurances as to the condition of
the property or service sold.
Warranty
of Authority
An
agent's promise or guarantee to third parties
that his/her actions fall within the scope
of authority given by the principal. An agent
acting outside of the scope of authority breaches
the warranty of authority.
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information. (Real Estate Terms, Investment
Terms, Banking Terms explained, definitions,
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