MAKE WHOLE Meaning and
Definition
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Make whole is a term used predominantly in legal and financial contexts to describe the process of restoring an individual or entity to the same financial or legal position they were in prior to a loss or damage. The primary objective of making whole is to provide full compensation or restitution to those who have suffered a loss or harm.
In the legal realm, making whole often occurs in cases involving personal injury or property damage. It involves determining the amount of financial compensation that will fully cover the losses incurred by the affected party. This may include medical bills, property repair costs, loss of income, and other related expenses.
Within the context of finance, making whole typically refers to a mechanism employed in loan agreements and bond issuances. When a borrower defaults on their repayment obligations, the lender or bondholders may execute the make-whole provision, which requires the borrower to fully compensate the lenders for any losses incurred due to early repayment or default.
In either context, the underlying principle of making whole is to ensure that the affected individuals or entities are adequately compensated and placed in the same position they would have been in had the loss or damage not occurred. The specific application and details of making whole may vary based on the legal jurisdiction or the terms of the financial agreement.
Common Misspellings for MAKE WHOLE
- nake whole
- kake whole
- jake whole
- mzke whole
- mske whole
- mwke whole
- mqke whole
- maje whole
- mame whole
- male whole
- maoe whole
- maie whole
- makw whole
- maks whole
- makd whole
- makr whole
- mak4 whole
- mak3 whole
- make qhole
- make ahole
Etymology of MAKE WHOLE
The word "make whole" is a phrase rather than a single word. It is formed by combining the verb "make", which derives from the Old English word "macian", meaning "to construct or create", and the adjective "whole", originating from the Old English word "hāl", meaning "healthy or sound".
When used together as a phrase, "make whole" typically refers to the act of repairing, restoring, or compensating for something to bring it back to its original or complete state.
