What Is the Sarbanes-Oxley (SOX) Act of 2002? The Sarbanes-Oxley Act of 2002 is a law the U.S. Congress passed on July 30 of that year to help protect investors from fraudulent financial reporting by corporations. Also known as the SOX Act of 2002, it mandated strict reforms to existing securities regulations and imposed tough
What Is Satisfaction and Release? Satisfaction and release is a document stating that a consumer has paid the full amount of debt that was owed to a creditor under a court judgment. A satisfaction and release prevents creditors from attempting to recover more money from the borrower or consumer. A satisfaction and release document states
What Is a Satisfaction of Mortgage? A satisfaction of mortgage is a document that confirms a mortgage has been paid off and details the provisions for the transfer of collateral title rights. Mortgage lenders are required to prepare satisfaction of mortgage documents that must be signed by all parties associated with the mortgage loan and
What Is Satisficing? Satisficing is a decision-making strategy that aims for a satisfactory or adequate result, rather than the optimal solution. Instead of putting maximum exertion toward attaining the ideal outcome, satisficing focuses on pragmatic effort when confronted with tasks. This is because aiming for the optimal solution may necessitate a needless expenditure of time, energy
What Is a Satoshi? The satoshi is the smallest denomination of the cryptocurrency bitcoin. It is named after Satoshi Nakamoto, the Bitcoin creator(s). The satoshi to bitcoin ratio is 100 million satoshis to one bitcoin. Key Takeaways A satoshi is the smallest denomination of bitcoin, equivalent to 100 millionth of a bitcoin.Bitcoins can be split
Satoshi Nakamoto is a pseudonym for the person or people who helped develop the first bitcoin software and introduced the concept of cryptocurrency to the world in a 2008 paper. Nakamoto remained active in the creation of bitcoin and the blockchain until about 2010 but has not been heard from since. Nakamoto was not the
What Is a Saturday Night Special? A Saturday Night Special is a now obsolete takeover strategy that involved a company attempting to acquire another one by making a sudden public tender offer, usually over the weekend. The offer was only open for a short interval, typically a few days, pressurizing shareholders to make a quick decision and
What Is the Saver’s Tax Credit? The saver’s tax credit is an added tax break for people with moderate incomes who contribute part of their salaries to retirement accounts. For those who are eligible, the credit reduces their income taxes owed dollar for dollar, up to a cap that depends on their incomes. The tax
What Are Savings? Savings refers to the money that a person has left over after they subtract out their consumer spending from their disposable income over a given time period. Savings, therefore, represents a net surplus of funds for an individual or household after all expenses and obligations have been paid. Savings are kept in
What Is a Savings Club? A savings club is a type of bank account in which the account holder makes regular contributions toward a predetermined goal. A typical example is so-called Christmas clubs, in which the customer makes regular contributions throughout the year and withdraws the amount saved before the Christmas holidays. These clubs are
