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

Category: S

SALT

A crystalline compound resulting from a chemical reaction between a base and an acid. An example is common salt or sodium chloride.

SCANLON PLAN

A cost saving incentive plan where any cost saving is shared between the firm and the workers.

SCRAP

Waste products that have little value that only comes from its basic content of material through recycling avenues.

SEARCHING

An exploration on the internet of the world wide web following one link to another in order to answer a question. It has a specific objective where browsing is just looking to

SECOND ISSUING BANK

The bank that issues the second letter of credit in a back-to-back letter of credit.

SECONDARY FINANCING

Another mortgage that is taken out on an a property or asset where the first motgage takes precedence over the second mortgage.

SECTOR ROTATION

See asset allocation. A process of investment salesin one style of business in order to purchase holdings in one or more than one different types where the investor has seen the greatest

SEGMENT

A division of a sector that is distinct but linked to or related to other elements. See segmentation.

SELF CATERING

An accomodation style where a kitchen is provided to guest to prepare their own meals.

SELF-EMPLOYED

A person who obtains their own work and where the rules of employment do not apply. They may employ other people to get work completed.

SELF-SERVING BIAS

The tendency to take credit for a successful outcome but to deny any responsibility for unsuccessful ones.

SENSITIZER

The repeated exposure to a substance that may cause the development of allergic reactions in some people.

SERIAL SHIPPING CONTAINER CODE (SSCC)

An identification code of 18 characters used for mainly non-standard mix containers.it has a 2 character application identifier followed by 1 digit packaging type, country code , 6 digit manufacturer ID, 9

SERVICE FACTOR (SF)

The overload capacity that is built into a device, engine or component before it will break down.

SERVICER

The otganisation collecting interest payments and princiapl payment from the borrowers and managing the accounts on behalf of the trustee.

SEVERAL LIABILITY

Different to a joint liability where more than one person is deemed liable. A plaintiff may initiate procedings against only one party.

SHARE REPURCHASE

A company will buy its own shares in order to boost the market for them by reducing the quantity of available shares.

SHELL

A part or a layer that is part of a computer operating syste. Seving as the user interface. See kernel.

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