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

Category: S

SHORT TENDER

Satisfying the offer to purchase all or some of a shareholders stock by borrowing common stock to pay for the tender offer.

SPARK SPREAD

The spread illustrating the difference between natural gas and electricity. The spread is bought while in positive margins and sold once the margins become negative. Refer to crack spread.

STAGGERED BOARD

The trigger of a change from annual to staggered reelection of the director of a company by offering external tender as an antitakeover defense.

STORY PAPER

The written explanation of unique securities that are not well known on the market in order to make them appear less risky and more marketable.

SUPERSINKER

The shortest living trance of a mortgage in a series. It is retired through early repayment.

SPECIAL ELECTION

An election for a particular emergency; out of the regularcourse; as one held to fill a vacancy arising by death of the incumbent of the office.Electiones fiant rite et libere sine in-

SHAM DEFENSE

A false or fictitious defense, interposed in bad faith, and manifestly untrue, insufficient, or irrelevant on its face.

SECOND DELIVERANCE

In practice. A writ allowed a plaintiff in replevin, where thedefendant has obtained judgment for return of the goods, by default on nonsuit, inorder to have the same distress again delivered to

SEVERAL DEMISES

In English practice. In the action of ejectment, it was formerly customary, in case there were any doubt as to thelegal estate being in the plaintiff, to insert in the declaration several

SINGLE DEMISE

A declaration in ejectment might containeither one demise or several. When it contained only one, it was called a “declarationwith a single demise.”

SPECIAL DILIGENCE

The measure of diligence and skill exercised by a good business manin his particular specialty, which must be commensurate with the duty to be performedand the individual circumstances of the case; not

SECOND DISTRESS

A supplementary distress for rent in arrear, allowed by law in some cases, where thegoods seized under the first distress are not of sufficient value to satisfy the claim.

STATUTE OF DISTRIBUTIONS

A law prescribing the manner of the distribution of the estateof an intestate among his heirs or relatives. Such statutes exist in all the states.

SCRIP DIVIDEND

One paid in scrip, or in certificates of the ownership of a corresponding amount of capital stock of thecompanv thereafter to be issued. Bailey v. Railroad Co., 22 Wall. 604, 22 L.

SECONDARY EASEMENT

One which is appurtenant to the primary or actual easement; every easement includes such “secondary easements,” that is. the right to do such things as are necessary for the full enjoyment of

SIDE EINES

In mining law, the side lines of a mining claim are those which measure the extent of the claim on each side of the middle of the vein at the surface. They

SIGNIFICATION

In French law. The notice given of a decree, sentence, or other judicial act.

SIMPLICITER

Lat. Simply; without ceremony; in a summary manner. Directly; immediately; as distinguished from inferentially or indirectly. By itself; by its own force; per se.

SITIO GANADO MAYOR

Sp. In Spanish and Mexican land law, a tract of land in the form of a square, each side of which measures 5,000 varas; the distance from the center of each sitio

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