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

Category: S

SALVAGE VALUE

The residual value of a product when it has reached the end of its productive life but still has a value if salvaged for recycling or reselling its parts.

SAY ON PAY

A corporate law that allows shareholders a say in how much the executives should be paid.

SCENARIO

A picture that is painted verbally to depict an outcome or sequence of events that are based on assumptions and factors chosen by its creator.

SCIENTIFIC MARKETING

A method that is used in interpreting and gathering market information that involves analytical testing and statistics.

SCREENING

Evaluation of a numnber of subjects to determine which have the right characteristics or attributes you are looking for.

SECONDARY MATERIAL

A material that is recycled to be used again. It has been used at least once before.

SECURE SYSTEM

A computer system that has protection that is provided through software and hardware that prevents against corruption of data, interception of data and any loss of data or unauthorised access.

SELF-HELP PROJECT

A scheme that is sponsored by the government where members of the community are encouraged to improve themselves through the means of creating self employment, food growing or providing themselves with shelter.

SEMI-ACTIVE RECORD

A record of primary value that is referred to occasionally. A record with less than one reference for each linear foot in each month.

SEQUENTIAL

An alphabetical order of transactions of incomes and liabilities recorded down in a ledger.

SERIOUS DELINQUENCY

When a mortgage is in danger of going into default as payments are greater than 90 days late.

SERVICE LEVEL AGREEMENT

A contract between the person or company providing a service and its customer. It will list nature, scope and quality of a service that is to be provided.

SERVOMECHANISM

A device of low power that controls a device that is more powerful when it senses changes in variables.

SEVERE

Strict, austere or intense with disastrous consequences.

SHARI’A

The legal system used by the Islamic people that is based on principles in the Koran and other literature.

SHIKOMU

A term in Japan where employees are aware, through training, of an organisations norms, culture , principles, objectives, traditions, methods of operation and its value system.

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