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Glossary
We want to make it as easy as possible for you to do business with us.
We try and use plain english wherever we can. Unfortunately the law
like any other industy has its own language and we can't always promise
that we won't be using words that are second nature to us, but may not
be second nature to you.
To help you find your way around the maze of legal terminology we've
provided you with a short glossary of some of the legal terms which you
are more likely to come across in our correspondence and documentation.
Our list, some of which is adapted from www.nolo.com is not exhaustive
as we have not intended to provide a detailed legal dictionary. There are
a number of other excellent websites however which will assist you should
you need any further explanations beyond those in our glossary.
Click on the following link and you will find a legal dictionary which may not
keep you amused, but will keep you informed.
www.nolo.com
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SC |
An abbreviation for Senior Counsel, a title which, since 1993 may be given to a Barrister in NSW in recognition of his or her seniority in the profession. It replaces the appointment of QCs by the NSW Government.
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Secured Debt |
A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien to satisfy the debt in the event of default. Compare this to an unsecured debt.
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Security |
An item of property which is used to provide assurance to a lender of a borrower's ability to repay the loan, e.g. a house/land. Usually the terms of a Loan Agreement will say that if the borrower does not keep up with their loan payments, the lender can sell the property to repay the loan.
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Security Deposit |
A payment required by a landlord to ensure that a tenant pays rent on time and keeps the rented premises in good condition. The security deposit not only covers any rent that might be owing but any damage caused by the tenant or any losses arising from any breach by the tenant. The security deposit is usually provided either by cash or a Bank Guarantee from the tenant's bank.
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Set Back |
The distance between a property boundary and a building. A minimum set back is usually set by Local Councils and will vary from council to council.
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Set Off |
A claim made by someone who allegedly owes money that the amount should be reduced because the other person owes him money. This may often be raised in a cross claim filed by the defendant in a law suit.
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Severability Clause |
A provision in the contract that preserves the rest of the contract if a portion of it is invalidated by a court. Without a severability clause a decision by the court finding one part of the contract unenforceable would invalidate the entire document.
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Shareholder |
An owner of a corporation whose ownership interest is represented by shares of stock in the corporation. A shareholder has rights conferred by the corporations law and by the constitution of the corporation and in private companies often by a shareholder's agreement. In large corporations shareholders are usually investors. They have rights to be notified of annual meetings and to participate in votes in relation to various issues. In small business owners often wear many hats ... shareholder, director, public officer, company secretary, and employee ... with the result that distinctions between these legal categories become blurred.
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Shareholders Agreement |
An agreement entered into between the shareholders of a small business company which covers all legal aspects of their relationship in the same way that a partnership agreement covers these matters. In Unit Trusts a Unitholder Agreement is entered into.
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Sick Leave |
Time off work for illness. Most employer's obligation to pay sick leave comes from the obligation to provide sick leave not less than an applicable award. The position is not so clear for non-award employees, although generally sick leave is a contractual right expressed in the contract of employment.
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Slip Rule |
The power of a court to correct clerical mistakes in a judgment (such as spelling or mathematical errors) even after the formal entry of the judgment.
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Specific Bequest |
A specific item of property that is left to a known beneficiary under a Will. If the person who made the Will no longer owns the property when he dies the bequest fails. If the beneficiary predeceases the person making the Will, then the gift falls into the residue of the estate.
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Specific Performance |
A remedy provided by a court that orders the losing side to perform its part of the contract rather than paying money (damages to the winner). The courts will not order specific performance of some contracts such as contracts of service (or employment). They will order specific performance of contracts for the sale of land.
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Statement of Claim |
See 'Pleading'.
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Status Conference |
See 'Interlocutory Proceedings'.
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Statute |
A written law passed by a State or Commonwealth Parliament and signed into law by the Governor of a State. Breach of statute can lead to criminal proceedings, monetary penalties, or claims for damages based upon a breach of the statute or in some cases a civil claim for damages.
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Statute of Limitations |
The legally prescribed time limit within which a law suit must be filed. If a law suit is not filed within the time limit, then, subject to a court exercising its discretion to extend the time, the person who wishes to bring the law suit cannot do so. The time limits vary from State to State and depending on the type of law suit which is to be brought. The time limits range from 14 days to more than 6 years.
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Statutory Declaration |
A written statement, declared to be true in the presence of an authorised witness. Making a false statement in a Statutory Declaration is an offence which can result in fining, jailing or both.
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Sub-Lease |
A rental agreement or Lease between a tenant and a new tenant (called a sub-lessee) who will either share the rental or take over from the first tenant. The sub-lessee pays rent directly to the tenant who remains liable under his lease with the landlord. A landlord normally has to consent to a sub-lease.
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Subpoena |
A document by which a court compels a person to attend court to give evidence or produce documents within that person's possession. Failure to comply with a subpoena without reasonable excuse may result in arrest.
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Subrogation |
A taking on of the legal rights of someone whose debts or expenses have been paid. For example subrogation occurs when an insurance company which has paid off its injured claimant takes the legal rights that the claimant has against a third party that caused the injury and sues that third party.
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Substituted Service |
A method for the formal delivery of court papers that takes the place of personal service when, for some reason, the person to be served either cannot be found or is avoiding service.
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Sunset Clause |
A clause that often appears in contracts or agreements which sets a date by which the agreement is terminated if the parties have not otherwise completed their obligations. For example a purchaser of a strata title unit off the plan will sign a contract in which the developer (or vendor) promises to finish the building by a certain date. If the building is not finished by that date then the contract might be rescinded.
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Supreme Court |
The superior court in each State or Territory.
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