SW glossary terms

Browse full definitions for every SW term in the Amicus glossary.

Swap

/swɒp/

Definitions

  1. (n.) A financial agreement to exchange cash flows or liabilities between parties, often to manage risk or speculate.
    The company entered into an interest rate swap to hedge against fluctuating rates.
  2. (v.) To exchange assets, rights, or obligations between parties by mutual agreement.
    The parties agreed to swap their lease agreements to better suit their needs.

Forms

  • swaps
  • swapped
  • swapping

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Commentary

In legal drafting, clarify the type of swap and governing law due to potential complexity and risk allocation.

Swap Agreement

/ˈswɒp əˈɡriːmənt/

Definitions

  1. (n.) A bilateral contract in which parties agree to exchange financial instruments, cash flows, or liabilities over a set period according to predetermined terms.
    The companies entered into a swap agreement to exchange interest payments to manage their exposure to rate fluctuations.

Forms

  • swap agreements

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Commentary

Swap agreements are key in managing financial risk and require precise terms regarding payment schedules and underlying assets to avoid ambiguity.

Swap Rate

/ˈswɑːp reɪt/

Definitions

  1. (n.) The fixed interest rate agreed upon in an interest rate swap contract, used to determine periodic payments exchanged between parties.
    The parties negotiated the swap rate to hedge against interest rate fluctuations.

Forms

  • swap rate
  • swap rates

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Commentary

The swap rate is fundamental in financial and legal documents governing derivatives, serving as the benchmark rate for payment calculations in swap agreements.

Swapped

/swɒpt/

Definitions

  1. (v. (past tense)) Past tense of swap, meaning to exchange or transfer rights, obligations, or assets between parties.
    The parties swapped their contractual obligations to better suit their interests.

Forms

  • swap
  • swapping

Related terms

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Commentary

As the past tense of 'swap,' 'swapped' typically appears in contexts involving contractual exchange or transfer of rights.

Swapping

/ˈswɒpɪŋ/

Definitions

  1. (n.) A financial arrangement in which two parties exchange streams of cash flows or liabilities according to predetermined terms.
    The companies entered into an interest rate swapping agreement to manage their exposure.
  2. (v.) The act of exchanging assets, securities, or contractual rights between parties under a swapping agreement.
    They are swapping debt obligations to alter their risk profiles.

Related terms

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Commentary

In legal drafting, clearly define the terms and conditions of a swapping contract to avoid ambiguity in rights and obligations.

Swear

/ˈswɛər/

Definitions

  1. (v.) To make a solemn promise or assertion, often invoking a deity or sacred witness, especially as a legally binding declaration or testimony.
    The witness swore to tell the truth before giving testimony in court.
  2. (n.) A solemn oath or affirmation made to confirm truthfulness or commitment, particularly in legal proceedings.
    He took the swear before testifying in the trial.

Forms

  • swears
  • swore
  • sworn
  • swearing

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Commentary

In legal contexts, 'swear' often involves solemnly promising the truth under penalty of perjury; distinctions between affirmations and oaths hinge on invoking a deity.

Swearing-In

/ˈswɛərɪŋ ɪn/

Definitions

  1. (n.) The formal ceremony or act of taking an oath or affirmation, usually upon entering a public office or assuming official duties.
    The judge's swearing-in took place at the courthouse before he began his term.

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Commentary

Typically used to mark the legal commencement of official duties; drafting should ensure the oath's wording and administration comply with jurisdictional requirements.

Swearing-In Ceremony

/ˈswɛərɪŋ ɪn ˈsɛrɪməni/

Definitions

  1. (n.) A formal event at which a person takes an oath of office, affirming their commitment to perform duties faithfully.
    The governor attended the swearing-in ceremony before assuming official responsibilities.

Forms

  • swearing-in ceremony
  • swearing-in ceremonies

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Commentary

The term commonly appears in contexts involving public officials or legal officers; precise wording of the oath can affect legal obligations.

Sweepstakes

/ˈswiːpˌsteɪks/

Definitions

  1. (n.) A promotional contest in which prizes are awarded by chance to participants, often regulated by law to prevent gambling or fraud.
    The company ran a sweepstakes to promote its new product line.

Forms

  • sweepstakes

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Commentary

Sweepstakes are distinct from lotteries in that no purchase or consideration is required to enter; legal compliance often requires this to avoid classification as illegal gambling.

Swindle

/ˈswɪn.dəl/

Definitions

  1. (v.) To cheat or defraud someone of money or property through deception.
    He swindled the elderly out of their life savings.
  2. (n.) A fraudulent scheme or act of cheating to obtain money or property.
    The company uncovered a swindle involving fake invoices.

Forms

  • swindled
  • swindling
  • swindles

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Commentary

Use 'swindle' to describe intentional deception for financial gain; distinguish it from broader fraud by its connotation of trickery or scam-like behavior.

Swindler

/ˈswɪndlɚ/

Definitions

  1. (n.) A person who cheats or defrauds others by deceitful means, especially in financial or commercial contexts.
    The swindler was arrested for running a fraudulent investment scheme.

Forms

  • swindlers

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Commentary

Swindler is commonly used to describe individuals involved in various forms of fraud; legal definitions may vary by jurisdiction but generally focus on deceit and financial harm.

Switch

/ˈswɪʧ/

Definitions

  1. (n.) A device or mechanism for making, breaking, or changing the connections in an electrical circuit.
    The electrician installed a new switch to control the lighting.
  2. (n.) In law, a strategic change of jurisdiction or procedural posture in litigation.
    The plaintiff's counsel executed a switch of forum to a more favorable court.
  3. (v.) To change, exchange, or substitute one thing for another, often in contracts or legal arrangements.
    The parties agreed to switch the terms of the agreement during renegotiation.

Forms

  • switches
  • switched
  • switching

Related terms

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Commentary

In legal drafting, clearly distinguish between 'switch' as a mechanical device and its figurative use in procedural or contractual contexts to avoid ambiguity.

Switche

Definitions

  1. (v.) Third-person singular present tense of switch.
    She switches her argument midway through the trial.

Forms

  • switch
  • switches
  • switched
  • switching

Related terms

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Commentary

"Switche" is a nonstandard or archaic spelling rarely used in modern legal texts; the standard form is "switch." This entry directs users to the base term for full legal definitions.

Swore

/swɔr/

Definitions

  1. (v.) Past tense of swear, meaning to make a solemn promise or affirmation often in a legal context.
    He swore to tell the truth, the whole truth, and nothing but the truth.

Forms

  • sworn
  • swearing

Related terms

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Commentary

As the past tense of 'swear,' 'swore' is used predominantly in contexts involving oaths or solemn affirmations, which are foundational in legal proceedings.

Sworn

/swɔrn/

Definitions

  1. (adj.) Having made a solemn declaration or oath, often under legal obligation.
    The witness gave a sworn statement before the court.

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Commentary

Used primarily as a past participle adjective indicating status after taking an oath; common in legal contexts to denote formal declarations or responsibilities assumed under oath.

Sworn Statement

/ˈswɔrn ˈsteɪtmənt/

Definitions

  1. (n.) A written or oral declaration made under oath, affirming the truthfulness of the statement for use as evidence in legal proceedings.
    The witness provided a sworn statement to the court regarding the events of the accident.

Forms

  • sworn statements

Related terms

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Commentary

While similar to an affidavit, a sworn statement may not require notarization but holds equivalent evidentiary weight when made under oath.

Glossary – SW Terms