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

Category: Finance

NONDISCRIMINATION RULE

A rule that mandates equal provision of benefits to all its employees, irrespective of their position. A retirement plan must include this rule to qualify under the Employee Retirement Income Security Act

NONFLAMMABLE

A substance that does not burst into flames when ignited, or one that is not ignited easily.

NONMEDICAL

A policy that deems the insured’s statement of healthy sufficient for its issuance.

NON-PARTISAN

Non affiliation or non specific ownership with respect to any cause, party or group.

NON-RECOURSE

A situation under a guarantee to the borrower or seller that an obligationor transaction is without recourse. This absolves the borrower or all blame in the event of loss or defect. The

NORM

1. A non stated set of guidelines which specify normal behaviour is a social context. Social control and order are prevalent due to the pressure exterted on an individual to coform to

NOT LESS THAN (NLT)

When negotiating a contract, it is the assurance from the vendor that the value of the property will not be less than the proposed value and the estimates that will be submitted

NOTICE OF CESSATION

A notice issued to concerning parties by the contractee stating that no work has taken place at the site of the project for a certain period of time. In addition, the period

NOUVEAU MARCHE

An equity market that is focused on novel and emerging firms that are leaders in their respective industries. Usually, companies with the potential to be a global leader or have already attained

NUTRIENT POLLUTION

A type of contamination that results in the excessive growth and algae that is caused by the release of plant nutrients into the water or soil. This causes oxygen depletion to the

OBLIGATED BALANCE

The balance in the budget account that is unspent, but it is reserved for a previously allocated purpose.

OCTANE NUMBER

This number provides a good measure of the gasoline’s ignition quality. A higher octane number corresponds to a smaller chance of premature combustion when subject to combustion in a standard engine. It

OFF THE JOB TRAINING

The training of employees at a location other than the usual work location, through the use of simulation, lectures,etc.

OFFICE SUPPLIES EXPENSE

The record of the transaction on the balance sheet that corresponds to the amount spent on the purchase of office supplies.

OFFLOADING

1. Also known as discharging, it refers to the process of unloading the cargo from a transportation vehicle. 2. The blissful sale of a product at the offered price

OIL AND GAS LIMITED PARTNERSHIP

A type of limited partnership that offers minimal threat to the participating partner in the field of the discovery, extraction and purification of oil and natural gases, as the most losses that

OMBUDSMAN

Appointed by governments to investigate complaints from citizens against large organizations (e.g. public bodies, corporations, the media). Typically, ombudsmen have wide-ranging investigative authority, but their punitive powers tend to be limited.

ONCOGENIC

An adjective that describes something known to cause tumors, or to be directly linked to the appearance of tumors.

ONLINE CORPORATE REPUTATION

How a corporation is perceived by Internet users. This will often be determined in blogs, public forums and web articles. Reputation management services can influence online reputation by addressing negative comments and

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