I thought it helpful to add the following from MSDN
The REVOKE statement can be used to remove granted permissions, and the DENY statement can be used to prevent a principal from gaining a specific permission through a GRANT.
This would further help clarify the difference between GRANT and DENY - hopefully.
Saurabh Dwivedy
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For better, quicker answers, click on the following...
http://www.sqlservercentral.com/articles/Best+Practices/61537