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

Category: N

NICKEL (NI)

An alloying metal element for making Austenitic stainless steels. High degree of corrosion resistance, ductility, harden-ability, and tensile strength are its contributions.

NO CLAIMS BONUS

Insurance premium allowed discounted or reduced on auto accident policies. As high as 60 percent of premium. It is awarded on the basis that no claims by the policy holder or by

NO STRIKE CLAUSE

Provided the employer or management keeps its side of the bargain, a union pledges to not initiate any strike action during the life of the agreement as stated in this type of

NAMES

Lloyd’s insurance underwriting syndicate members who provide risk capital, and share in the syndicate’s profit and loss, but do not participate in the underwriting process. In proportion to the invested amount, each

NATIONAL FIRE PROTECTION ASSOCIATION (NFPA)

A US organization that has international membership. Its purpose is establishing and updating fire protection and prevention safeguards. NFPA publishes National Fire Codes, standards, manuals, and recommended practices in a 16-volume set.

NEARBY FUTURES CONTRACT

The shortest maturity or settlement dated future or option. Just after the nearby futures contract settles, the next futures contract is the next closest futures contract that settles. The most distant futures

NEGATIVE DIVERGENCE

Overall trends being perceived to be taking place in a particular market are the point of disagreement by at least two averages or indexes.

NEGLIGENCE RULE

Legal principle preventing an entity from putting forth a defense based on a mistake caused by that entity’s negligence. For example, if a negligent entity causes a negotiable instrument’s misuse, as in

NET ADVANTAGE OF REFUNDING

Future earnings’ value in current money a business or individual saves with a refund from a bond redemption prior to its maturity and a lower-cost bond reissuing.

NET DEBT PER CAPITA

Debt amount per citizen a government carries as a measure. Calculate as: (short-term debt plus long term debt minus cash minus other liquid assets) divided by the population. Government’s total debt levels

NET INTEREST EARNED

After investment expense and before income taxes, an insurer’s investments average interest amount earned.

NET OPERATING LOSS (NOL)

In an accounting period net operating expenses exceed operating revenue as this amount. Excluded are extraordinary gains and losses, financial expenses like interest paid, and revenue like as interest earned.

NET WEIGHT

A good without its container and/or packaging weighed: Actual, computed, or estimated weight. Net weight equals gross weight less tare weight.

NETWORK MODEL HMO

multiple physician groups contracting with an HMO model. individuals not covered by the HMO can get care from these physician groups.

NEW KEYNESIANS

Adherents to a macroeconomic theoretical model developed in the 1980s. This model evolved from a prior model espoused by British economist John Maynard Keynes. Prices and wages change more slowly with short-term

NEWLY INDUSTRIALIZING COUNTRIES (NICS)

Moving from a strictly agriculture-based economy to a more industry-based, urbanized population with a developed economic infrastructure is how this type of country transitions.

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