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

Category: S

STRIP FINANCING

Achieved by the sale of standard packages of securities comprising common and preferred stock, convertible bonds with debt in fixed proportions. Also known as strips and can’t be confused with STRIPS.

STYLE MANUAL

The format for written communication followed by all departments of an organization.

SUBJECTIVE ERROR

An error that is systemic and caused by the bias or prejudice of an individual.

SUBSCRIBER CONTRACT

Contract describing benefits available to a person registered under a plan for health care.

SUBSTRATE

The underlying or primary material on what other materials are applied or made from.

SUICIDE CLAUSE

Life insurance provision where the policy will not pay for suicide within 2 years of the start date.

SUPERLEADERSHIP

Situation where leaders gradually and deliberately turn over power, authority and responsibilities to a team that is self-managed.

SUPPORT COSTS

Expenses that are incurred in activities that are not associated directly with production.

SURPLUS PROPERTY

Property not being used but is held by a state government. It may be out of date of not working.

SWEATSHOP

The business that takes advantages of its employees and work them under hazardous or harsh conditions paying minimum wages.

SWORN STATEMENT

An assessment or written or oral facts that are stated under oath, an affidavit, for example.

SYNDICATED LOAN

A loan that is large and jointly arranged by 2 or more financial institutions to share any risks. Also known as Multi bank credit or syndicated credit.

SYSTEMATIC APPROACH

The approach that is methodical, repeatable and able to be learned by a step-by-step procedure.

SPECULATE

1. Financial. Engage in speculation. 2. General. Make an assumption or guess based on small amount of data or none at all.

SPLIT DOLLAR PLAN

A contract for life insurance jointly purchased by an employee and employer.

SPOT BID

A bid at auction where written bids are placed in the box that is then opened prior to the next item is up for auction.

STAGE

A project sub-section where tasks are performed together with scheduled outcomes.

STANDARD OF CARE

Degree of care a prudent and reasonable person will exercise under the circumstances. See duty of care.

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