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

Category: Finance

OUT OF ORDER

Unavailable for a short time because minor repair work is necessary.

OUTLINE FONT

A font that is based upon the mathematical formula for each character, that can be scaled to any size and makes use of a display or printing device?s full potential.

OVER AND ABOVE WORK

Additional work discovered during the completion of a contract that falls within the scope of the project, is necessary for the project to be completed, but is not covered by the terms

OVERCONTRIBUTION

Paying more into a tax deductible retirement plan than is permitted for a given period of time. Usually, this results in a penalty to the contributor.

OVERLEARNING

Repetition of learning beyond the amount required to retain the information.

NOMINAL QUOTE

A price quote on the value of a futures contract that has not been bid on for a long duration. Also referred to as nominal price, nominal quotation or subject quote

NON-CRITICAL FAILURE

The cause of the degradation with respect to the quality of performance and operational capacity, the impact of which is tolerable for a small period of time without major losses.

NONDISCRIMINATION TESTING

1. General: A set of standard rule is applied upon careful evaluation of fairness and equality using this method. 2. Interstate Commerce: Ensuring that all countries are charged equally and justly through

NON-PERFORMING ASSET

A loan or lease where (1) payment from the lessee is not received on time, (2) payments have stopped, (3) Maturity date has passed and the agreement is still unfulfilled. In these

NONRECOURSE DEBT

In the event that a borrower defaults, this type of loan limits the lender’s power to take possession of the borrower’s property.

NON-STANDARD ADDERS

Transaction specific cost elements that increase the cost estimates on a casebycase basis.

NORMAL PRICE

A price that reflects the lowest possible average of the total cost of production with normal profit taken into consideration. It is the equilibrium price that is determined by the interaction of

NOT NEGOTIABLE

A statement on a bill of exchange which prohibits it from being transferred or traded. The statement reads ‘not negotiable’, except in the case of check where it can be made non

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