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

Category: Finance

OUTPUT DEVICE

A computer peripheral that converts computer output into forms that can used directly (e.g. printer) or with another device (e.g. a DVD writer).

OVERBOOKING

The practice of selling more tickets for a flight or concert than can be accommodated, to avoid empty seats caused by ?no-shows?.

OVERHEAD RATE

Calculated by dividing overhead costs over a given period by production activity.

OVERRIDING COMMISSION

This commission is paid to a primary agent for sales made by subagents in his or her territory. It may also refer to the amount owed to the owners of an acquired

OVERWEIGHT

A portfolio’s investments are overweight when the percentage amount invested in a particular market is greater than the market’s proportional share of total capitalization. Opposite of UNDERWEIGHT.

NOMINAL LOAN RATE

The interest rate discounting the effect of compounding, expressed on a per annum basis that applies to a mortgage, credit card or similar loans. It is also known as effective loan rate.

NOMINEE COMPANY

A company that is formed by a financial institution or another organisation which operates an account that holds assets and securities on behalf of the actual owner under the terms of a

NON-CAPITAL LOSS

Occurs when the expenses of a business are greater than the income for a financial period.

NONCONTRIBUTORY

An insurance wherein the full premium cost is borne by the employer, with no contribution from the employee.

NON-DISABLING INJURY

A less severe injury compared to partial or complete disability that is eligible for a monetary compensation. Typically includes a disability payments for a month.

NON-EXPENDITURE DISBURSEMENT

Spending such as the repayment of a loan’s prinipal amount or the payment of a refund that is not charged as a usual expense.

NON-LEDGER ASSET

Instruments such as the receipt of higher interest with a dividend payment, that is not recorded in a ledger account.

NON-OPERATING LOSS

Activities such as strikes, result in the incurrence of a no-operating loss for the firm, although they are not related to the firm’s business operations.

NONQUALIFIED PLAN

A benefit plan for an employee that does mandate the filing with the IRS and as such tax deductions in exchange for contributions are not offered. Under the nonqualified plan, certain employees

NON-RESIDENT COMPANY

A company that is located in an area which is given the status of a nonresident for tax purposes.

NON-VERBAL COMMUNICATION

1. Elements of speech such as pitch, tone, speed in addition to behaviours such as facial expressions and gestures that communicate meaning. 2. The delivery of meaning or messages through a medium

NOSTRO-VOSTRO ACCOUNT

An arrangement between two correspondent banks that allows both banks to keep a local currency account for each other.

NOTE

1. A written statement by an individual to pay a sum of money to another individual, or the bearer of the note at a specified period in time. It is a compromise

NOTICE TO VACATE

A notice that is written by either the landlord or tenant giving a notice to leave the premises within a specified time frame, or to demand the same. The notice is typically

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