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

Category: S

STAY OF PROCEEDINGS

Suspension in the progression of a law suit by a court order in situations where proceedings are frivolous or a plaintiff has been involved in misconduct.

STEPPED-UP BASIS

Tax provision for inheritances allowing tax to be determined by market value at time of death and not at time of original purchase.

STOCHASTIC EFFECT

The chance effect of an injury caused by a substance with no threshold level and the probability is in proportion to the dose but the severity is independent of it.

STOP LOSS

The term for the clause that stops the losses of the insurer at a set point.

STOWAGE INSTRUCTIONS

The directives from the shipper to the transporter about a items must be stowed in order to prevent loss or damage.

STRATEGIC ALLIANCE

Co-operative agreement between companies who work together towards a common objective.

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.

SUBVENTION INCOME

Amount of revenue that a not foot profit organization needs to keep to pay operating expenses.

SUMMA CUM LAUDE

Latin-with highest honor. Given to graduates with a high academic achievement. See magna cum laude and cum laude.

SUPER MAJORITY

A majority of 75% or more of votes needed to approve decisions or changes in an organization.

SUPERTURNKEY

An all encompassing turnkey contract such as for design-build-operate (DBO) arrangement.

SURFACTANT

Active surface agent allowing ‘wetting’ of a soiled surface and the suspension of greasy particles in a solution.

SUSPENSE FILE

File arranged chronologically for storing documents waiting to be acted on or associated with unconcluded transactions. Also known as tickler file.

SWING TRADER

The investor seeking to profit from cycles of prices lasting from one day to many weeks. Compare to day trader; scalper.

SYMMETRICAL DIGITAL SUBSCRIBER LINE (SDSL)

A single line digital subscriber line, DSL, offering 2.3 Mbps of bandwidth in both directions over phone lines to a length of 10,000 feet with no repeaters. Also called High Speed digital

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