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

Category: Finance

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

NUMERIC RELIABILITY

The probability that an item will fulfill its operations for the duration specified without being spoilt.

OBJECT ORIENTED ARCHITECTURE

The ease of manipulation granted by this design method is possible through the representation of files and other operations as data structures.

OCCUPATIONAL HAZARD

The potential risks to life or functioning of an individual that is inherently associated with his occupation or work environment. Some of these hazards lead to the contraction of a disease or

OFF PREMISE BANKING

Banking activities or transactions that occur at ATM machines located outsidethe premises of the bank, usually in malls or markets.

OFFICE EQUIPMENT

Assets such as furniture and computers that are absolutely essential to the operations of the company

OFFICIOUS INTERMEDDLER

A person under no obligation to confer a benefit or privelege to another individual, but does so unilaterally. This person cannot expect anything in return for the performance of the aforementioned deed.

OFFSHORING

The transfer of the operations of a company to another country with favourable economic conditions or due to the availability of cheap labor in the other country.

OLD LINE

A nonfraternal insurer who operates on the basis of a legal reserve is referred to as the old line.

ON PACK PREMIUM

A discount or gift voucher that is placed on a product or its packaging to increase the likelihood of impulse purchases. Often used with products new to the market.

ONLINE ADVERTISING

The use of websites, search engines and emails, to send promotional messages to Internet users. Because a site?s visitors often share information about themselves during registration, this advertising can be tailored to

OPAQUE FARE

A flight ticket purchased at a heavy discount without a flight time or flight number, to be used at the airline’s discretion.

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