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

Category: S

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.

STATIC

1. General. Featured by lack of activity, movement, change or progress. 2. Communications. The n Oise of electromagnetic interference disrupting or degrading quality of an analogue reception or transmission.

STATUTORY EMPLOYEE

Worker treated like an employee for statutory deductions but for tax from income deductions the worker is considered to be self-employed.

STEP LEASE

A provision for the increase or decrease in rent based on the agreed upon formula like the lessor’s associated expenses with a lease or sale of the leased property.

STICKY FLOATER

Financial instrument with a floating rate of interest moving in one direction only.

STOCKPILING

A process for disaster mitigation where essential items are procured and stocked before the disaster.

STORE FRONT

The side of the store that is facing the street and has windows for displaying stock and has the store entrance.

STRAIGHT TIME

Term in cost accounting for the number of hours worked in a day without overtime. See standard time.

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.

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