Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: Finance

NON-GOVERNMENTAL ORGANIZATION (NGO)

A organization that has no affiliation to the government and performs voluntary operations in the field of education, wildlife,etc. They are usually funded by the UN or by benefactors. The donations are

NON-OBJECTING BENEFICIAL OWNER (NOBO)

A stock owner who gives authority to the brokerage through which he holds the stock, to diclose his details to the underlying company. The company is thus able to contact him regarding

NON-PROBABILITY SAMPLE

A variation of unit sampling wherein the probability of picking some of the samples is zero, and identity of those that will be picked for sampling is unknown.

NON-RECURRING INCOME

One time sales of assets, or insurance settlements that are unique in nature and unlikely to occur again during the normal course of operation for a business.

NON-TRADE DEBT

Interest owed to an individual investor, that does not constitute a trade.

NORTH

A term collectively used to refer to developed countries, most of whom are located to the north of developing countries(also known as the south)

NOT TAKEN

A policy that has been rejected or not claimed by the insured even though they are eligible for the policy claims.

NOTICE OF TITLE

Knowledge made available to the buyer that the title is subject to claims by parties other than the seller.

NUCLEAR WASTE

Radioactive, hazardous waste products that are produced at the end of the manufacturing cycle of nuclear processes. They are radioactive for hundreds of years and as such safe disposal involves burial deep

OBITER DICTUM

A latin term meaning said in passing, it is a judge’s statement that is based on some established facts, but does not affect the judgement.

OBSOLESCENT STOCK

Items that are utilized as a replacement for other similar items until they are completely used up.

ODOR THRESHOLD

The level of or concentration of odorous vapor in the air that is detected by only fifty percent of the test subjects.

OFF-BOOK PARTNERSHIP

A partnership between two companies to raise investment capital. Often, companies resort to the formation of illegal partnerships.

OFFICIAL RECORD

The original document that is legally recognized and thus ensuring the quality of a fact when it is established. Official records are documented and kept for the entire duration of their retention.

OFFSHORE FINANCIAL CENTER (OFC)

Countries such as Singapore, Luxembourg, etc which offer little to no government interference in the activities of legitimate business owners and financial institutions. OFC’s offer very low income tax rates, often zero

OIL PORT

A harbor located in the middle of the sea to accommodate giant tankers and as such they are equipped with the tools and machines to load, receive and store oil

ONE-SHOTS

This is a type of system commonly used by governments to record expenses that may be used only within a specific contractual period.

ON-SALE DATE

The date that publications are scheduled for newsstand delivery by the distributor. The on-sale date determines when the publication in question, based on its frequency, is due for submission.

OPEN BUYING ON THE INTERNET

An online business practice that allows a seller and purchaser to execute a transaction through the use of electronic communication.

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