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Silk

a senior barrister sometimes referred to as a leader or leading counsel (also see QC)

Small Claims Track

the track that defended claims with a value of up to £5,000 (non injury) and £1,000 (injury) are allocated to in the Court system and which is then governed by certain specific procedural rules

Special Damages

fixed and quantifiable losses associated with a claim for personal injury damages such as loss of earnings, vehicle damage, etc

Statements of Case

documents setting out the claim/defence of the parties involved in the proceedings

Statement of Truth

the signature at the end of a Statement of Case, application or other document verifying that the contents of that document are true

Sub Judice

in the course of trial - whilst a Court case is under consideration proceedings are sub-judice and details cannot be disclosed

Success fee

the percentage of basic charges added to the legal bill under a Conditional Fee Agreement if a personís claim for damages is successful

Summons

an order to appear or to produce evidence to a Court

Secured Creditor

a creditor with specific rights over some or all of the debtor's assets in the event of insolvency. In essence he is paid first from the secured assets

Security

a charge or mortgage over assets taken to secure payment of a debt. If the debt is not paid, the lender has a right to sell the charged assets. The most common example is a mortgage over a property

Shadow Director

a person who is not formally appointed as a director, but in accordance with whose directions or instructions the directors of a company are accustomed to act

Statutory Demand

a formal notice requiring payment of a debt exceeding £750 within 21 days, in default of which bankruptcy or liquidation proceedings may be commenced without further notice

Supervisor

the person appointed to supervise the implementation of the IVA or CVA

Sale and leaseback

an arrangement whereby a property is sold, with the vendor simultaneously being granted a lease on the property by the purchaser

Secondary property

property which is defective in one (or possibly two) of the characteristics of prime property

Securitisation

the conversion of assets into tradeable securities

Security of tenure

the right of a tenant to continue to occupy until the landlord obtains a court order for possession or the tenant terminates of the agreement

Service charge

the amount a tenant pays for services the landlord provides

Side agreement

terms agreed separately by landlord and tenant, or by buyer and seller, which do not form part of the lease or contract of sale

Special Purpose Vehicle (SPV)

an SPV is any entity established for the purpose of undertaking a single property transaction. There are many types of SPVs and each has its own tax status

Stamp Duty Land Tax (SDLT)

this is a tax charged by the government on land transactions and is chargeable at rates between 1% and 5% on the VAT inclusive purchase price and rent

Subletting

where the tenant lets part or all of the premises to a subtenant, as permitted by the terms of the lease. It differs from assignment in that the head lessee remains responsible to the landlord for the payment of rent and fulfilment of other obligations

Subject to contract

wording of any agreement before exchange of contracts which allows either party to withdraw without incurring any penalty

Survey

a report carried out by a surveyor on the physical condition of the property being purchased

SDA

Sex Discrimination Act 1975 - prohibits discrimination based on gender or marital status in employment or when making an offer of employment

SMP

Statutory Maternity Pay - an employer must pay SMP to any employee who is eligible

SSP

Statutory Sick Pay

Statement of Particulars

a written statement outlining the terms, duties and responsibilities of a particular job

Statutory rights

any privilege recognised and protected by law.

Separation agreement

a document setting out agreed terms for a separation without involving court proceedings

Service

the process by which court documents are formally sent to the recipient party (usually via their solicitor)

Specific issue order

an order determining a specific issue relating to a child, such as a dispute regarding education or medical treatment

Statement of arrangements

the form that must to be sent to the court with the petition if children are involved, setting out the proposed arrangements for those children when the divorce takes place

Stipendiary Magistrate

a legally qualified and salaried Magistrate now called a District Judge

Summary Offence

a criminal offence which can only be tried by a Magistrates' Court

Surety

a person's undertaking to be liable for another's non-attendance at Court

Suspended Sentence

a custodial sentence which will not take effect unless there is a subsequent offence within a specified period

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