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

Category: S

SIGNATURE GUARANTEE

The conformation by the bank that a signature from a customer is authentic and valid.

SINE QUA NON RULE

A ruling that states that a loss would have occured regardless of a persons action.

SITE LICENSE

A license that is purchased for software that is used at one location.

SLANDER OF GOODS

An intentional cast of aspersion on a person’s goods and merchandise.

SMALL CLAIMS COURT

The court where claims less than $1000 are being judged. It is a relatively cheap forum for minor disagreements and controversies.

SNAKE OIL

A mixture of exotic ingredients that promise to cure all ills that usually has no medicinal properties at all.

SOCIAL FORCE

An element in society that is capable of causing a change in cultural ideas and influence people.

SOCIAL SAFETY NET

Community provided welfare services at local and state level geared towards reducing poverty in the community. It can provide housing, jobs and money for utility bills and food coupons.

SOCKET

A software program that acts as a “virtual Port” by providing a link between 2 different computer prgrams on the same computer. See port.

SOFTWARE

The information, in the form of computer programs that make a computer carry out certain functions.

SOLENOID

Used to relay energy from one device to another that is an electro mechanical piece.It is a coil that can produce an electr-magnetic field.

SOUND BITE

A block of audio that is 10 to 30 seconds long that is the basic element of TV or radio broadcast.

SOVEREIGN DEBT RATING

An assessment of the likelihood that a country will default its loans made by the International ratings agency.

SPECIAL CAUSE

A term used in quality control for a cause in variation which is not part of a process but will arise from an intermittent, instabel and unoredictable factor.

SPECIAL RESOLUTION

A resolution that requires an important decision to alter terms of articles of association or memorandam of association. It requires no less than 21 days notice, no less than 3/4 of the

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.

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