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

Category: N

NIGHT DEPOSITORY

Secured documents or pouches lodging usually requiring a key for access, this is an opening in a building’s exterior wall, as in a bank,

NO COST CONTRACT

Pays back ‘in kind’, but has no monetary consideration. Used mainly to avoid effort duplication, it is typically used by a government that has developed a new but classified technology and a

NO-ASSET CASE

The filer has no assets available to creditors to satisfy outstanding debts in a Chapter 7 bankruptcy filing in this type of situation.

NON-CONCURRENCY

When insurance policies are not properly arranged and do not give enough protection.

NOSTRO

A term meaning our account. It is used by foreign banks to handle its local currency.

NARCOSIS

Narcotic substance inhalation or ingestion produces this specific type of stupor, arrested activity, even unconsciousness.

NEED SATISFACTION APPROACH

A salesperson’s sales technique using probing questions and careful listening to identify a prospect’s stated, expressed needs and unstated, tacit expectations. Those product aspects that satisfy the prospect’s needs become the salesperson’s

NEGATIVE GAP

Interest-incurring liabilities exceed interest generating assets in interest rate sensitivity analysis. A negative gap in a declining interest rate environment improves net interest income because falling interest rates reprice more liabilities than

NET ASSET VALUE (NAV)

At the financial market’s close the mutual fund’s share or unit’s daily computed value. Also known as bid price, NAV per share, or NAV per unit. Calculated as: (each security’s market value

NET FIXED ASSETS

For a point in time on a balance sheet, this is the fixed assets’ value. Calculate as: (all fixed assets’ purchase price plus leasehold improvements) minus (Accumulated depreciation plus Total liabilities).

NET LEASE

Lease arrangement by a tenant, the lessee, to pay rent plus associated general expenses. A capital lease is a net lease but an operating lease is not. The lessee may pay for

NET PREMIUM

In general, any premium with a commission, or expenses, or dividends, or loss coverage subtracted. It is a general term that can have many different meanings. In particular, it is the premium

NETBACK

Total revenue from all products made from crude oil minus total cost bringing crude oil to market. Only applies to oil suppliers.

NEW PRODUCT DEVELOPMENT

Development process for a new product or service. This development type is set as the preliminary step in product or service development. It involves steps in a protocol that must be completed

NEWSGROUP

Online discussion group for interaction via an electronic bulletin board system and chat sessions. Every conceivable subject is covered by thousands of internet based newsgroups. (refer to Usenet) (refer to internal relay

NIKKEI STOCK AVERAGE

Founded in 1949, 225 largest Japanese corporations listed on Tokyo stock exchange as a price weighted index. It holds the ‘First section’ firms’ shares, the Japanese equivalent to NYSE Blue Chips. Movement

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