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

Category: S

SUNSET PROVISION

The provision or condition in law that designates a point in time when that law will no longer be in effect.

SUPERNORMAL GROWTH

A rate of growth of an industry or firm that is greater than the economy as a whole.

SURFACE RIGHTS

Rights of a landowner to the exterior or upper section of land , water and other substances below the land. See mineral rights and subsurface rights.

SUSCEPTIBILITY

The degree where an organism or system is able to be impaired due to a weakness that is inherent in normal operations. See survivability.

SWIFT

Society for Worldwide Interbank Financial Telecommunications. Global network of communication giving banks 24 hour secure exchange internationally.

SYMBOLIC LANGUAGE

An artificial language such as Mathematics that uses symbols to avoid any ambiguities or inadequacies of a natural language like English.

SYNOPSIS

The brief summary or outline of main points of articles, plans or books.

SPECIALIZATION

The community, organization or groups agreement that sees the person with the appropriate skills assume the responsibility for the task.

SPENDING PLAN

A budget that comprises all of the department budgets for a period of accounting, project or program.

SPLIT RUN

Technique in scheduling ads where 2 ads are run to see which is the more effective.

SPREAD TRADING

Strategy in trading by the buying simultaneously of a security and selling a related security against it. Called pairs trading.

STANDARD STOCK ITEM

An article that is approved for procurement, issue or storage and is normally kept at hand.

STARTUP COSTS

A cost that does not recur in the start up of a business. Also known as start up expenses.

STATUTORY TRUST

Trust that is created by an operation of law where real property is held by trustees for the immediate or essential sale using their discretion.

STOCHASTIC

The model or situation that contains a random, unpredictable element that has no order or pattern.

STOP GO POLICY

Short term policy that keeps a balance between 2 objectives that appear to be in contradiction with each other.

STORYBOARD

Blueprint depicting sequence of scenes of a commercial for TV with sketches text and pictures.

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