Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: Finance

RISK-BASED CAPITAL

The sum of money that needs to be retained by the savings institutuion in order to leverage any risks that are associated with the day to day running of the business.

ROLE CONFLICT

The lack of compatibility between expectations of a position or job.

RONALD COASE

Economics Nobel Prize winner for research into transaction costs and right to property.

ROUND TRIPPING

The strategy where a business will sell an asset and then want it back at a time in the future.

RULE AGAINST PERPETUITIES

An older legal ruling that states that abenficiary must have the property left to him, transferred to him within a period of 21 years.

RURBAN AREA

A new development of land that is between an area of rural activity and the edge of suburban area that has already been developed.

SALES RESISTANCE

The objective or subjective opposition of a customer to purchase a product. A skilled salesperson can counter this resistance with more positive reasons to buy.

SANITATION

The control of factors in the environment that could be a risk to health, development and survival.

SCALE DRAWING

The size of a drawing in relation to the actual size of the object drawn.

SCHEMATIC DESIGN PHASE

The phase in the product or project design that comes first in order to give a client an over view of the project.

SCOPE CHANGE

An engineering, quantity, support or schedule change that has been directed by the customer. A modification to a project.

SEA WAYBILL

A receipt for cargo ythat has been taken on board a vessel. It is not a document of title or a bill of lading.

SEAT PITCH

Known as leg room it is the distance between the back of a seat and the front of the seat behind it.

SECONDARY AUDIENCE

The people who can exert an influenceon a primary audience. It can be children, spouses, frinds neighbours or associates.

SECONDARY PICKETING

The picketing of a company that is not a direct party to a labour dispute. It may be buying or selling to the party where action is happening.

SECURITY ENDORSEMENT

A procedure in shippingwhere a shipper signs a statement rthat certifies that there are no dangerous materials such as explosives in the shipment.

SELECTION OF RISK

A term used to refer to an insurers selection of what risks to insure. The term refers to the act of ceding poor risks in reinsurance.

SELF-ACTUALIZATION

The motivation that a person uses to maximise one’s own possibilities and potential. Thought to be the only motive.

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