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

Category: S

SKILL BASED PAY

A wage system where the employess are paid by the number of skills they possess and not how long they have been at the company.

SKYPE

A free VOIP, voice over the internet, service to let users communicate via the internet by a combination of video, voice and messages.

SLUDGE

A residue of a semi-liquid consistency from industrial processes and the traetment of sewage and waste water.

SMOKESTACK INDUSTRY

A heavy manufacturing industry, cars, metal industries, that puts pollution into the air that is harmful to the local environment.

SOCIAL CONTRACT

Essential for any organised behaviour in a group or community that is unwritten but agreed upon and establishes responsibilities and rights.

SOCIAL MEDIA

Any cell phone or internet based tools and applications that are uswed to share and distribute information. Sites such as Facebook, Twitter, YouTube, blogs.

SOCIALIST

A person or in dividual who follows and lives by the principles of a Socialist ideology or dogma.

SOFT PROOF

A proof ready for printing that is shown on a computer screen and not on paper or material as a hard and finished copy.

SOIL ENGINEER

A civil engineer specialising in the analysis of soil, drainage and factors that can influence the foundations of structures to be built on them.

SOLVENCY RATIOS

A comparison, mathematically, of the different elements of financial statements. 1. Current liabilities to inventory ratio. 2. Current liabilities to net worth ratio. 3. Current ratio. 4. Fixed assets to net worth

SOURCE SEPARATION

The sorting of a range of materials that form waste products where it is made and not where it is dumped.

SPECIAL AGENT

See general agent also. The agent who acts only for a principal and only for a particular purpose.

SPECIAL NEEDS TRUST

A supplememntal fund given to a person with a disability that does not jeopardise any government support payments.

SALAD OIL SCANDAL

In 1963, Allied Crude Vegetable Oil committed $175 million loan fraud when it used water filled cargo as part of its inventory to fool inspectors.

SALESPERSON

The individual who sells services and goods to another person. Their success is based on volume and sales.

SANITIZER

an anti miocrobial agent that kills or renders inactive 99.9% of all known bacteria, viruses and fungi that are present on a surface. Based on toxic chemicals. See disnfectant and sterilant.

SCALE PROBLEM

A situation in financial management where the internal rate of return (IRR) method may lead to an investor choosing a higher IRR that may give him a lower return than a project

SCHEME

A broad outline of how an objective can be acheived. It is not a formal plan and will not show every detail.

SCOPE OF BARGAINING

Issues that are included in a collective bargaining situation. Classified as mandatory, permissive or prohibited.

SEARCH ENGINE

A program for computers that uses keywords and phrases to search for documents and web pages using the keywords and phrases.

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