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

Category: S

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.

SUPPORTABILITY

The degree by which characteristics of design of a support or stand by system meet the needs of operation of the organization.

SURPLUS VALUE

Difference between wages and the value of goods or services produced by the worker.

SWEEPSTAKE

Promotional scheme where prizes can be won by random chance.

SYCOPHANT

Person trying to get what they want or to earn respect using flattery on influential people who can help with goal achievement.

SYNDROME

A group of symptoms occurring together to indicate a certain disease or condition is present.

SYSTEMIC ERROR

Error affecting all items comprising the group in a similar manner and magnitude. They are caused by a flaw in the system and occur in the same direction and don’t cancel each

SPECIAL VERDICT

A decision by jury where the defendant isn’t guilty of the charge but is found guilty of a lesser offense or is not guilty due to reason of insanity.

SPEECH SYNTHESIS

Technology that can ‘construct’ speech that replace a human voice. Mainly used to assist blind and sight impaired.

SPLIT OFF POINT

A production process juncture where the product stream splits up into 2 or more distinct products which are identifiable as a joint product.

SPREAD INCOME

Difference between cost and income. Also known as margin income.

STAGNATION

The stage of an economic cycle where less than 1% of growth or decline occurs.

STANDARD OF VALUE

The type of value that is used in transactions such as book value, adjusted basis value etc.

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