Glossary

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Scandinavia	The law and practice in the Scandinavian countries.

Secured Lending	When a sum of money is lent to a person, and is secured upon their property. If a person fails to meet the terms of the loan agreement, the lender has the right to seize their property. A mortgage is the most common example of this. This area of practice includes repossession proceedings and drawing up loan documentation.

Securities	The laws covering shares, stocks, and debentures.

Shipping	The laws relating to all kinds of boats (except those moved by oars). The laws concern property, crew, safety on board, transportation of goods and passengers, wrecks, harbours, etc.

Social Security	Laws designed to protect vulnerable members of society from problems resulting from old age, sickness and unemployment.

Social Security, Welfare & Benefits	Laws designed to protect vulnerable members of society from problems resulting from old age, sickness and unemployment. The law relating to welfare and benefit programmes in the UK covers free education, housing assistance, legal aid and various advice schemes.

Spanish Law	The law and practice in Spain.

Sports Law	The body of laws pertaining to sporting issues. These include contractual matters, the conduct of governing bodies, performance-enhancing drugs, competition law and intellectual property.

Stamp Duty	A tax on legal documents, such as conveyances, leases, etc. The stamps, which are either impressed or adhesive, certify payment.

Stock Exchange/ Stocks and Shares	Stocks are units of monetary value which make up the capital of a company. The value of a company can be divided into shares, the ownership of which represents a fractional ownership of that company. A stock exchange is an association of people who sell government stocks, and shares in public companies on behalf of their clients.

Subsidiaries and Joint Ventures	A subsidiary company has another company controlling its board of directors or owning more than half of its share value. A joint venture is an association of people involved in any kind of financial venture which envisages making a profit.

Switzerland	The principal aspects of Swiss law involve Swiss Federal law and the Civil Code. Developed from German law, it also has French influences.