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

STATEMENT OF RESOURCES

Financial statement showing assets owned or available to an organization for using in objective accomplishments.

STATIC

1. General. Featured by lack of activity, movement, change or progress. 2. Communications. The n Oise of electromagnetic interference disrupting or degrading quality of an analogue reception or transmission.

STATIC DECISION

A decision that is implemented and whose outcome is controlled b y the person making the decision.

STATIC QUALITY

The continuation of current practices to maintain the quality of a service or goods.

STATIONERY

1. General. Supplies for the office such as paper, envelopes. 2. Computing. Types of papers used by different printers.

STATISTICAL COST

The cost that is determined by using statistical methods on historical data.

STATUS QUO STRATEGY

A market approach aimed at keeping things the same and not trying for a larger market share and avoiding competitor confrontation.

STATUS REPORT

A report that summarizes a situation over a set period of time.

STATUS SYMBOL

Acquisition of an item for its visible sign of belonging to a group or social class.

STATUTE BARRED

The claim, agreement or right that can’t be subject of any legal action because it is too late after the date has been exceeded. See statute of limitations. See laches.

STATUTE LAW

Body of written laws that have been adopted by the legislative body.

STATUTE OF FRAUDS

Needs that contracts must be written and executed properly to prevent perjury and fraud.

STATUTE OF LIMITATIONS

Time frame set by legislation where affected parties need to take action to enforce rights or seek redress after injury or damage.

STATUTE OF REPOSE

Statute of limitations applying the number of years a party has after the contract is over to act.

STATUTORY BAR

The ban that has been placed on an activity by a parliamentary act. See statute barred.

STATUTORY CONSTRUCTION

1. The interpretation of a statute by the court.2. Principles developed for legislation interpretation by courts.

STATUTORY EMPLOYEE

Worker treated like an employee for statutory deductions but for tax from income deductions the worker is considered to be self-employed.

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