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

Category: S

SLAG

The waste produced from processing metal ores. It floats to the surface and contains silicates, sulphates and phosphates of calcium. Called tailings.

SMALL BUSINESS LOAN

A loan given to small businesses with fewer restrictions that allow the owner to borrow for the enterprise.

SMORGASBORD

A Scandinavian term for a cold buffet. Now it is where all courses are offered at the same time, both hot and cold. Swedish – sandwich table.

SOCIAL FABRIC

The demographics of an area that consists of wealth, ethnic composition, level of education, rate of employment and regional values that are combined to create this social fabric.

SOCIAL RESPONSIBILITY

The obliagation of the management of an organisation to the welfare and the interest of the society where it is in operation.

SOCIONOMIC

A science of social prediction suggesting that the mood of society drives the political and financial behaviour of that society.

SOFTCOVER

A publication that has been glued into a cover that is flexible. Called a paperback, sft back of a soft bound.

SOLDERING

The process of joining 2 pieces of metal together with a low melting point alloy to fill in the gap between the 2 metals.

SOTHEBY’S

A large and now global company started in 1774 that is the 4th oldest house for auctions that is still operating. It sells privately, at auctions for art, real estate and other

SOVEREIGN AUTHORITY

A body such as a parliament whose actions have a legal force and who has the ultimate power to modify, lay down and rescind ant laws of the land.

SPECIAL BUILDING FORM

A form that was used to cover a commercial building against any perils. Now obselete and replaced by the Building and Personal Property Coverage form.

SPECIAL REPORT

An auditor certified document that measures how a company or business has complied with GAAP.

S CORPORATION

A US corporate structure where the income of the firm is passed to the stockholderss in a proportion to their investment and taxed at rates of personal income tax.

SALE AND BUYBACK

Financing that is off the balance sheet where the owner sells an asset or property to an investor and he then buys the item back over a long term mortgage. See Sale

SALT

A crystalline compound resulting from a chemical reaction between a base and an acid. An example is common salt or sodium chloride.

SCANLON PLAN

A cost saving incentive plan where any cost saving is shared between the firm and the workers.

SCRAP

Waste products that have little value that only comes from its basic content of material through recycling avenues.

SEARCHING

An exploration on the internet of the world wide web following one link to another in order to answer a question. It has a specific objective where browsing is just looking to

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