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

Category: S

STREET SMARTS

Being able to take care of yourself in an environment that can be dangerous.

SUBCHAPTER M

Reference to the IRS code permitting an investment company or a real estate investment trust , REIT,to avoid a double taxation .

SUBOPTIMIZING

Accepting less knowingly than the best outcome possible to avoid adverse effects from trying harder.

SUBSISTENCE ALLOWANCE

Money paid to employees travelling on the company’s business to cover all travel costs, meals, lodging and other expenses associated with travel.

SUBURB

Area located at the edge of the urban development of a city.

SUM PAYABLE

The amount that needs to be paid in order to satisfy the obligation.

SUPER LIEN

A statutory lien that is superior or senior to all current and future liens for the same property or asset.

SUPERSTRUCTURE

Construction that is above the foundation or basement that is supported by infrastructure which is supported by substructure.

SURFACE WATER

Water that is naturally open to the atmosphere, lakes estuaries, reservoirs, seas etc.

SUSPENSE ACCOUNT

An account that is temporary used to record (1) receipts or disbursements from unconcluded transactions or (2) discrepancies between account totals until rectified.

SWING LOAN

A loan of a short term allowing the home owner to purchase a new home before he has sold the first home. Also known as a bridging loan or gap loan.

SYMMETRIC KEY CRYPTOGRAPHY (SKC)

Coding scheme for secure data transmissions using one digital key to encode and decode the message. Also known as symmetric key encryption.

SYNTHETIC

A product not naturally produced but fabricated through synthesis.

SPENDTHRIFT CLAUSE

Clause stopping the beneficiary’s creditor’s ability to collect benefits before they are received by the beneficiary.

SPLIT-OFF

When part of a firm is sold off, stock converts to shares in the new company.

SPREADSHEET

1. Accounting. Worksheet set out in columns and rows.2. Computing. Software allowing data to be entered in columns and rows to ease mathematical use of formulas and to present and graphs and

STALE CHECK

One presented a long time, 6 months or more after the date of issue. Also known as a stale dated check.

STANDBY

1. Held as a reserve, substitute or spare to use when needed. 2. Passenger ticket with no reservation but takes the next available seat.

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