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

Category: Finance

SIMPLE CONTRACT

A contract not made by a deed. It may be an implied contract evidenced by the conduct of involved parties.

SISTER COMPANY

A subsidiary of a parent company that owns more than one subsidiary company. The subsidiaries are considered to be sister companies.

SIX SIGMA QUALITY

A process that is well controlled and is A+ or A- on the Six Sigma chart. It means 0.00034% defects per m illion products made or zero defects in real terms.

SKIP PAYMENT LEASE

A condition where lease payments are not paid every month but only certain times during a year.

SLOTTING FEE

A sum paid to by the vendor to a retail chain for a place on its shelves, room in its wharehouse, puting the product on the store inventory and programming scanners to

SMOKE

The products that are produced during a combustible event such as a fire.

SOCIAL CLASS

A hierarchy of status where people are classified according to wealth and prestige. It refers to any level present.

SOCIAL LOAFING

The actions of members of a group who don’t work as hard they would if working by themselves. The “free ride effect”-assuming someone else will do the work and the “Sucker effect”-

SOCIAL VALUE

A concept including social capitaland the wellbeing of citizens and their ability to make decisions that will affect them.

SOFT GOODS

Goods and textiles that are made from soft goods and soft material including fur, vinyl, leather and flexible plastics.

SOFTWARE SUPPORT

The providing of after sales service to customers for updates and any problems they may encounter.

SOURCE REDUCTION

A way to reduce the amount of material that will enter a waste stream ata certain point in processing by redesigning the product and the processes involved.

SPARE PART

A component that can be replaced when it is needed to be because of malfunction or wear.

RATE OF CHANGE

Shown as a relative amount between changes in variables over a precise period. Stock traders depend on the swiftness of change of one stock price relative to another stocks price.

RATIO TEST

A test where a certain number of employees on the low end of the pay scale must equal 70 percent of the employees on the high end of the scale.

REACTION ADJUSTMENT

A lull in the price of a security or profit of the entire stock market after a rally.

REAL ESTATE BUBBLE

The real estate bubble is distinguished by property values quickly increasing until they outperform other elements of the economy. They are then followed by a sharp decline in property value.

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