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

Category: S

SPECIAL ASSESSMENT

A tax that is levied on properties in an area to provide for infrastructure such as street lighting and footpaths.

SPECIAL PERSONAL PROPERTY FORM

A form that has been nearly replaced by Building and Personal Property Coverage Form and covers commercial risks for all perils.

SALARY CAP

The uppermost salary or wage that is paid to an employee that is set by the government or union organisation. Also used by sporting clubs for paying all of its team members.

SALIENT

Something that is noticeable or obvious, easy to see and visible.

SANS RECOURSE ENDORSEMENT

See blank endorsement. An endorsement that says that the endorser does not want to incur any liability if the document is not honoured. It is also called without recourse or at the

SCALEABLE FONT

A font on a computer that can chnage size from quite small to large . The change is made by the person using the computer.

SCHOOL OF THOUGHT

A set of ideas that are held by a group of people, also a doctrine by which to live by.

SCOPE OF WORK

The work that is to be carried out under a contract to complete a project, broken into deadlines and specific tasks.

SEARCH ENGINE OPTIMIZATION

A way to improve traffic to a web site by using keywords and phrases that are unique toa company or product. The SEO process will mean more people seeing your web page

SEC YIELD

A method used by US Securities and Exchange Commission for computing the return on investments. It allows a comparison of the performance of funds that has no confusion.

SECONDARY DAMAGE

The damage that can be caused after the initial damage or failure of a device.

SECRET RESERVE

The amount that is not disclosed to anyone that is involved in buying or bidding on bonds and stocks. The only person who knows the amount is the person who is issuing

SECURITY MARKING

The clear marking of a document showing its level of security that will ensure its protection at the required level.

SELECTIVE DISTRIBUTION

Often used for designer and high end goods where a select market is chosen with a small number of select outlets to cover a geographical area.

SENSITIVITY CHART

Called a tornado diagram it is a graph that plots results of various assumptions on a final outcome in a sensitvity analysis test.

SERIAL CORRELATION

A correlation that is undesirable but remains undetected by statistical techniques. A non-random pattern.

SERVICE CENTER

A support centre that offers services to support other departments in an organisation.

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