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

Category: S

SPREAD DURATION

Measuring the sensitivity of a bond price based on basis point changes of more than 100.

STAGED PAYMENTS

Payments that are made in installments bot not necessarily in a regular or an equal amount.

STANDARD OF FAIRNESS

The level of even handedness used in dispensing justice where claims are recognized in order of legal and contractual priority.

STAPLE PRODUCT

The most important product forming the major part of an economy’s output or the GDP of a country.

STATIC DECISION

A decision that is implemented and whose outcome is controlled b y the person making the decision.

STEP RATE

One that moves up and down in a fixed or standard progression.

STICKY SITE

Web site that is well organized , content rich where visitors will return again and again.

STOCKTAKING

Verification of number of items in an inventory to accurately value and audit the stock.

STRATIFICATION

1. Classification of large quantity of data into groups based on criteria exhibited. 2. Society’s hierarchical arrangement into layers based on features such as gender, race, age.

STRONG MARKET

A market where sellers are outnumbered by buyers and prices are trending upwards.

SUB ACCOUNT

A separate account kept under safe keeping with a bank.

SUBJECTIVE THEORY OF CONTRACT

Early 19th century legal concept where the existence of an agreement that was binding was determined the intention between parties.

SUBSIDENCE

The land of insured property that is able to shift for a number of reasons.

SUBSURETY

Added surety with less liability than the surety that is the principal that is contingent with the non-performance of the principal or earlier one.

SUKUK

Financial certificate similar to a bond issued in Islam complying with the Sharia laws.

SUNRISE INDUSTRY

An emerging industry gaining favor with investors and is expected to push further growth economically.

SUPERMARKET

A large store selling range of household items and food to its customers.

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