I have a query:
SELECT
someFields
FROM
someTable
WHERE
cheapLookup=1
AND (CAST(someField as FLOAT)/otherField)<0.9
What you're referring to is short-circuiting, like other languages (e.g. C#) support.
I believe SQL Server can short-circuit but depends on the scenario / what happens in the optimizer so there is certainly not a guarantee that it will. It just might.
Excellent reference on this by Remus Rusanu here:
http://rusanu.com/2009/09/13/on-sql-server-boolean-operator-short-circuit/