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

Category: N

NO DUTY RULE

Legal rule: a defendant who owes the plaintiff no duty is not liable for any plaintiff injury or damage.

NOBLE METAL

Inert or near-inert metal showing little or no chemical activity with atmosphere and mild acids. Gold, silver, and platinum are such metals. They do not rust or corrode, displaying an indefinite life

NOTIONAL

The way amounts payable and received are computed.

NARCOTIC

Trichloromethane (CHCl3) or chloroform is an example of a substance that causes narcosis.

NATIONALIZATION

A government takes over a privately owned corporation, industry, and resource, often without compensation, but sometimes with. (1) Preventing unfair exploitation and large-scale labor layoffs, (2) Distributing income from national resources fairly,

NEED TO KNOW

An entity is cautiously given specific information based on this specific type of predetermined criterion.

NEGATIVE GOODWILL

Fairly-valued assets acquired that go beyond the acquisition limit. On the balance sheet this will affect listed transactions .

NEGOTIATED MARKET

Buyers and sellers negotiate the price posted as bid and ask prices in this type of market. NASDAQ is an example. In contrast, the New York Stock Exchange and American Stock Exchange

NET ASSET VALUE PER SHARE

a mutual fund’s single share or unit value. Calculated as: (the fund’s total assets minus the fund’s total liabilities) divided by the number of outstanding shares. Also known as Average Price.

NET FOREIGN FACTOR INCOME

A business’ or a nation’s income calculated as payments from the foreign sector to citizens minus payments to foreigners employed to provide domestic goods or services. The gross national product minus the

NET LEVEL PREMIUM

Life insurance policy’s pure cost until term-end divided by the year count in-force.

NET PRESENT VALUE (NPV)

Calculated as: investment amount minus investment’s future cash flows present value. Calculate expected cash flows Present value as: discounting future cash flows at the required return rate.

NETBOOK

A small, limited-use laptop, primarily for email and Internet access. Netbooks started to gain in popularity in 2007. Netbooks are less expensive than a regular laptop, and generally weigh only two to

NEURAL NETWORK

Artificial intelligence technique allegedly mimicking the human brain’s operation as nerves and neurons. Densely interconnected computer processors work simultaneously in parallel. A key neural networks feature is that their programming sets them

NEW TOWN

Specifically designed to serve a mix of residential, commercial, and industrial needs, this is a self-contained, self-governing community, city, or town built strictly to a detailed plan on land standing undeveloped.

NEWSLETTER

for circulation within an organization, or aimed for a select audience on a narrow subject, this type of small, printed or published communication occurs through other means like a newspaper or digest,

NINA LOAN

A borrower avoids disclosing income and personal assets with this specific reduced documentation mortgage loan. This mortgage type typically has an interest rate higher than market. To secure the loan, employment is

NO EVIDENCE

Admissible evidence absence or insufficiency to establish one or more essential case elements that the party having to bring proof must provide. The opposing party can ask the court to dismiss the

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