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savings bond.See BOND(3). [Blacks Law 8th]

savings-bank trust.See Totten trust under TRUST. [Blacks Law 8th]

savings bank.See BANK. [Blacks Law 8th]

savings-and-loan association.A financial institution — often organized and chartered like a bank — that primarily makes home-mortgage loans but also usu. maintains checking accounts and provides other banking services. — Often shortened to S & L. — Also termed loan association; thrift institution; thrift. Cf. BUILDING-AND-LOAN ASSOCIATION. [Cases: Building and Loan Associations 1, 24–40. C.J.S.…

savings-account trust.See Totten trust under TRUST. [Blacks Law 8th]

saving clause. 1. A statutory provision exempting from coverage something that would otherwise be included. • A saving clause is generally used in a repealing act to preserve rights and claims that would otherwise be lost. [Cases: Statutes 228, 277. C.J.S. Statutes §§ 370–372, 431.] 2.SAVING-TO-SUITORS CLAUSE. 3.SEVERABILITY CLAUSE. — Also termed savings clause. [Blacks…

savings account.A savings-bank depositor’s account usu. bearing interest or containing conditions (such as advance notice) to the right of withdrawal. [Blacks Law 8th]

saving,n. An exception; a reservation. [Blacks Law 8th]

saver default (say-v<<schwa>>r di-fawlt). [Law French] Hist. To excuse a default. — Also spelled saver de fault; saver defaut. “Saver default is the same as to excuse a default. And this is properly when a man having made default in court, comes afterwards, and alleges a good cause why he did it, as imprisonment at…

save-harmless clause.See INDEMNITY CLAUSE. [Blacks Law 8th]