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

Category: N

NO CONTEST

The accused will not contest the facts on which the charge is based as a criminal case plea. It is not an admission of guilt. It is generally aimed at preventing lawsuits

NOA

Notify On Arrival. A definitive, mandated instruction to the carrier by the consignor to notify the consignee at shipment arrival.

NANOTECHNOLOGY

Emerging technology at atomic or molecular levels. New materials with unique characteristics uses emerge from its manipulations and processes. Equivalent to microengineering.

NATIONAL HEALTH INSURANCE

A federal government’s insurance benefits system established to cover all or almost all national citizens. The United States is developing such a program. Tax money funds these systems entirely or partially.

NECESSITIES

Required universally for subsistence or survival. Minimum standard-of-living essentials.

NEGATIVE EQUITY

A mortgaged asset’s market value is below the loan amount taken against it. Some loan agreements force the borrower to cover the loss. The lender may ‘call’ the loan, demanding immediate loan

NEGLIGENT

Failure by action, behavior, or response, willful or not, to maintain the expected care required from a reasonable, prudent person under the circumstances .

NET ADVANTAGE TO LEASING

Current fund amount an entity saves from an asset’s lease versus its outright purchase. This is calculated by subtracting the interest rate on borrowing money to purchase the asset from the asset’s

NET EARNINGS

Another name for net income (Total revenue minus Total expenses).

NET PATIENT REVENUE

Calculated as: inpatient and outpatient revenue services minus expenses. A term in healthcare administration.

NET REALIZABLE VALUE OF ASSET

1. Asset’s selling price minus sale transaction expenses minus expenses for bringing the asset to a saleable state. In the ‘lower of cost or market value’ rule applied to inventory valuation, this

NETWORK OPERATING SYSTEM (NOS)

As a part of an operating system (OS), this is a specific program set that provides security to computers connected to a network, directory services, and file and print services.

NEW MEDIA

The Internet is an example of this electronic interactive media.

NEWLY INDUSTRIALIZING ECONOMY (MIE)

Brazil, China, India, Korea, Mexico are developing but relatively advanced countries with rapidly growing industrial production scale and scope. Also known as newly industrializing country.

NIFTY FIFTY

During the 1960s and 1970s, this specific largecap stocks group including General Electric, IBM and American Express was once highly favored by institutional investors.

NO CONTEST CLAUSE

To prevent a contracting party or beneficiary from challenging a contract’s terms this specific provision becomes a contract or testament add-in.

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