Every Saturday I’ll give you a couple of idioms to learn. An idiom is a saying or phrase whose meaning cannot be taken from the literal meanings of the words.
in black and white: in writing
Example:
Before you sign the lease, make sure you get the after-hours heating schedule in black and white.
cut one’s losses: stop doing something that is causing you to lose money
Example:
Expanding the franchise was a mistake. We need to cut our losses and sell the unprofitable restaurants.