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

Category: S

STRONG DOLLAR

State of the US dollar affecting imports and exports when traded for a higher value of foreign currency.

STYLIZED FACTS

Repeated observations in several contexts that become accepted as an empirical truth and set boundaries that all new hypotheses need to conform to.

SUBJECTIVE PROBABILITY

The numeric measure of probability reflecting the degree to which a personal belief indicates the likelihood of it occurring.

SUBSTRUCTURE

The basic foundation or framework supporting a superstructure and it is supported by infrastructure.

SUNK COST BIAS

Expenses previously paid for that aren’t affected by an future or current decisions.

SUPPORT OBLIGATION

A secondary obligation supporting performance or the satisfaction of another obligation.

SURPLUS RESERVE

The amount that is appropriated out of surplus earned for future or unforeseen expenditure.

SWEEP ACCOUNT

Arrangement in banking where a cheering account balance below or above a set amount is transferred automatically from and to interest bearing accounts.

SWOT ANALYSIS

Analysis of a situation where Strengths and Weaknesses of organizations, Opportunities and Threats are examined to develop a strategy. See PEST analysis.

SYNDICATION COST

Cost incurred in promoting a syndications interests. May be an intangible asset in financial statements.

SYSTEMIC

System wide effect of a group or system as a whole instead of individual member parts.

SPEECH RECOGNITION

Technology enabling computers to recognize spoken words. The sound is digitized and then matched to a pattern stored on the database.

SPLIT LIMIT

General term referring to coverage that is divided into separate amounts depending on the loss type.

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.

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