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

Category: S

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.

SERIALIZABILITY

A method of identifying data transactions that occur concurrently with one another but are independent of one another.

SERVICE LEASE

A lease of equipment where the lessee needs to maintain and to service the asset that is leased.

SERVICES RENDERED

The completeion of a service that has been requested by clients that has resulted in a request for paymnent.

SEVERANCE PACKAGE

The package that is offered to employees whose contract has been closed for work. Will include payment for a set period of time after which employment is terminated.

SHAREHOLDER LOAN

A process where the share holder will exchange for interest repayments.The collateral could be shares or debentures from the company.

SHEWART CYCLE

4 step process of quality control. 1. Plan, 2. Do, 3. Check, 4. Act. Named after Dr Walter Shewart, mathematician who proposed this idea.

SHIPPING TIME

The time it takes a shipped order to reach its destination. Combined with order time it is the elapsed time between the requisition and avauilability.

SHORT CALL OPTION

A call option type with different strategies. In one an investor will sell a covered call, while in the other the investor sell a naked call.

SHUTDOWN

The time when a piece of equipment, a machine or a plant is not working.

SINGLE COLUMN CENTIMETER (SCC)

The standard measure used for display advertisements and classified advertisements that are priced in centimetres used in one column units.

SITUATION ANALYSIS

The collection and systematic evaluation of present and past economical, social, political and technological data that is aimed at identifying both internal and external forces on an organisation and assessing the organisations

SKIMMING

1. An illegal practice where money is taken from receipts for cash that is for personal use.2. Fraud where the numbers from a credit card are first recorded and then transferred to

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