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STATUTORY FORECLOSURE

the foreclosure of a lien on property without using a law suit but is based on existing statute.

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SHOP RIGHT RULE

the privileged of an employer to make and sell an invention of one of his employees without paying any royalties.

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SETTLE PROPERTY

a term used to determine the future of a property so it will not be impaired or harmed by its current occupant.

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SECESSION

a term that means withdrawing from a membership in a group or organisation.

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STATE INSURANCE FUND

a fund that has been created and managed by the state so it can pay worker’s compensation benefits and awards.

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STANDING SEISED TO USES

the term for an agreement or a covenant by the property owner to hold the property fore a relative.

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STANDING BY

the act of standing by and not giving out any information that is important to resolve a legal issue.

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SEVEN YEARS

a term for a person who has been seen or heard from and is presumed to be dead.

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SHIFTING CLAUSE

a clause that allows a different distribution of property than that was originally prescribed.

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SMALL BUSINESS ACT

the name of a federal law that has been enacted to aid small business enterprises.

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STATUTE PENAL

a law that provides the punishment for a crime or an offense.

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STATUTORY PARDON

a term used to describe a pardon that is granted to a person by the action of a legislative body.

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SLUM

the name that is used to describe a rundown and dilapidated housing area where poor people are living in poverty.

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SUPREMACY CLAUSE

a statement in Article VI of the US Constitution that states laws are the laws of the land and all other laws are subservient to and bound by the laws laid down by the constitution.

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SATISFACTION PIECE

a written memorandum that states the matter in dispute between the plaintiff and a defendant has been settled.

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SEVERALTY ESTATE

the term that is applied to an estate that is owned by only one person.

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SELF-DEALING

the term used for buying securities from insider information giving a favourable position that is not granted to the public.

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SPECIAL MATTER

This s something that a defendant can call upon when defending himself. The plaintiff is given notice of any special matter to be introduced.

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SITUATED

a term for describing the location of something.

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SELLING SHORT

a term where a person sells stocks that are not really owned by the seller where the seller hopes to cover the sale by buying it later at a lower price.

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