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

Category: S

SOUR CRUDE

Crude oil that contains a large amount of sulphur by weight, usually above 1 %.

SPECIAL COVERAGE FORM

Offer a broad coverage to any property, commercial or personal that will cover all risks but might have a lot of other exclusions.

SPECIAL TOOLING

Any specialised equipment that can be only be used for a specific purpose. Items like gauges, dies, molds, jigs, patterns.

SA8000

The international work place quality standard that is based on social accountability.

SALES APTITUDE

The ability a person has to close a sale. Often determined by appearance, intelligence, personality and motivation to sell. Involves a well thought out and flexible sales approach.

SCARCITY

A situation where demand for a product or resource is more than is available.

SCIENTIFIC LAW

An independent and verified description of a link between a cause and an effect. It wil be deduced from observations and experiments and is considered to be applicable universally.

SCREEN

A strategy used when selecting stock where a company is evaluated based on a set of criteria. It can be screened by hand or with an interset based tool or using software

SECOND SOURCE

A strategy used in acquisition where there are two suppliers or producers who qualify to supply the same item.

SECURE SERVER

A computer system that is designed for dedicated servers only to provide a secure online commerce transaction over a network such as the internet.

SEGMENTATION STRATEGIES

The approaches used in order to subdivide a market or population into segments with similar characteristics. Five major strategies, behaviour, benefit, demographic, geographic and psychgraphic segmentation.

SELF EXECUTING

A legal instrument enforced by a judicial process that is effective immediately without the need for any other requirements.

SELF-FULFILLING PROPHECY

An expectation about a circumstance that can be negative or positive that can affect how a person acts that causes the expectations to be fulfilled.

SEMANTICS

The study in scientific terms of words and also how meanings are applied to words.

SEPARATE ACCOUNT

The relationship where a single pension plan sponsor retains an investment manager under a stated policy for investment that is exclusive to the sponsor.

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