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

SALARY CAP

The uppermost salary or wage that is paid to an employee that is set by the government or union organisation. Also used by sporting clubs for paying all of its team members.

RUPERT MURDOCH

The billionaire mogul of media who holds the major share in News Corp. An Australian with interests in print, television and music publications.

SABIN

The imperial measurement of sound absorption. One sabin is equal to the power of absorption of one foot squared of a perfect sound absorption material placed in an open window.

SALARY REDUCTION PLAN

Capital accumulation plan or pension plan where an employee makes a contribution to a pension plan from their salary that reduces the tax payable. Puts the employer into a lower tax bracket.

SALES MULTIPLE

A figure that is computed when the annual revenue of sales is multiplied by an industry multiplier that arrives at the current market value of a business.

SALES ORDER

A document that is generated by the seller to authorise the sale of products or services on receipt of the customers order. It implies that there will be no further cost to

SAFETY

The freedom from injury, harm, danger or loss to personal property whether deliberate or accidental.

RUST BOWL

An area with a lot of manufacturing businesses that have all moved operation or closed down.

SALE-LEASEBACK

A lease that is taken out by the previous owner on a property he has just sold. Usually a longterm lease.

SALES APTITUDE

The ability a person has to close a sale. Often determined by appearance, intelligence, personality and motivation to sell. Involves a well thought out and flexible sales approach.

SALES RESISTANCE

The objective or subjective opposition of a customer to purchase a product. A skilled salesperson can counter this resistance with more positive reasons to buy.

RUN RATE

The projected profit of a company is studied in order to make next years investment decisions.

SALES TO CASH FLOW RATIO

The measure of the efficiency of a company’s marketing strategy. It is calculated by dividing sales of each share with the cash flow of each share.

SALE AND BUYBACK

Financing that is off the balance sheet where the owner sells an asset or property to an investor and he then buys the item back over a long term mortgage. See Sale

REWORK

1. The correction of a failed, defective or a non-conforming item. 2. The actaul cost of the correction of defective work.

RUNNING ROYALTY

The compensation that is paid to the licensor or franchiser based on number of units sold or produced instead of being paid a lump sum.

SALES LITERATURE

Any form of literature such as brochures, booklets, charts, catalogues, manuals, MSD sheets, press clippings, price lists, techniacl data sheets, test results and satisfied customer responses.

ROMAN FACE

The upright type face as compared to a slanted type face like italics.

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