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

Category: N

NODE

1. Device role to receive, send, or process data in a telecommunication network. 2. Point or nexus for two or more interfacing devices or two or more line or link terminals. 3.

NOYAU DUR

When the french have longstanding business with a company they expect this form of loyalty.

NARROW AND DEEP

Stocking a large brand variety within a limited item range in a retail store as this type of retailing strategy.

NATURAL BUSINESS YEAR

A company may use this for its fiscal year, replacing the calendar year. A 12-month term beginning at the business operations’ start date is this type of year.

NEGATIVE ACCOUNT EMPLOYER

An employer paying out more in employee unemployment benefits than contributing to its state-run unemployment insurance (UI) account. The state’s periodic account review will trigger an increase in employer contribution until the

NEGOTIATION CREDIT

The issuer specifically states that this documentary credit is available by negotiation. The issuer’s owes this money as an obligation continued to its drawers, endorsers, and bona fide holder for value for

NET BOOK VALUE

As asset’s value as it appears in the company’s books. Calculate Net book value as the asset’s original cost minus accumulated depreciation.

NET IMPORTER

A location that is often a specific country or territory whose imported goods value exceeds goods exported value during a specific time range. When the imported goods’ total value exceeds exports’ total

NET PRESENT VALUE RULE

The investment is considered a profitable value If the net present value is calculated above zero. The investment is considered worthless If net present value is less than zero.

NET RETENTION

1. In Insurance, this is the insurance policies amount still on the books after subtracting cancellations and lapsed policies from new policies written. 2. In General business, this is the company’s employee

NETIQUETTE

Net etiquette. Proper Internet manners, especially during chatting (refer to internet relay chat). Always remember that a person like you is on the other end of this chat. A computer screen is

NEUROTOXIN

Behavioral, emotional, or body-movement motor abnormalities occur from an affected central nervous system when exposed to this specific type of biological or chemical substance, like mercury compounds.

NEW TRIAL

A higher, appellate court orders a case’s re-trial due to (1) judicial misconduct or jury misdirection, (2) procedural defect, or (3) available fresh evidence.

NEWSPAPER POLICY

Sold by newspaper advertisements with the aim of increasing circulation, this is a specific type of limited health insurance policy.

NINETY-DAY LETTER

Following an audit, the recipient has 90 days to respond to a tax deficiency or other discrepancy as detailed in this type of notice sent from the IRS. Tax collection activities are

NO FAULT COMPENSATION

Without having to prove any other party was at fault in an accident, an aggrieved party is awarded compensation. Workmen’s compensation is no-fault compensation. It is a legal rule in some jurisdictions.

NO-DOC LOAN

To complete this type of mortgage loan application, no supporting documentation is required. The interest rate common to such a loan is typically higher than full or reduced documentation loans. The borrower

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