The Law Dictionary

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

Category: N

NO FAULT LAW

Legal rule in some locales, like the US. Fault is immaterial in an auto accident as everyone is responsible for one’s own injuries received. The intent is to reduce damage claims count

NO-GROWTH

Restricting or discouraging a community’s commercial development as a practice.

NO-SHOP CLAUSE

An agreement clause between an owner and a prospective buyer to suspend all other purchase negotiations for a stated time period. In other words, the seller agrees to stop seeking other acquisition

NAKED POSITION

A futures market’s un-hedged position. Call option writer with the right to buy or put option writer with the right to sell, having no corresponding long position or short position on the

NARROW AND DEEP

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

NATIONAL ASSOCIATION OF REALTORS (NAR)

US realtors’ organization. NAR established uniform standards and rules. The organization often lobbies for home ownership related legislation. It also provides regular reports on the housing market’s status.

NATIONAL LABOR RELATIONS BOARD

An independent federal agency to insure employee rights to organize and bargain with their organizations., and for monitoring the business practices of private companies and their respective labor unions.

NAVIGATION MAP

Finding one’s way around a website, locating areas of interest, and accessing other associated websites using a specific set of information and links. Also known as site map.

NEGATIVE PLEDGE CLAUSE

If the company issues stocks or bonds that have a negative effect on the shareholders, the borrower has this specific type of contract or agreement as cover.

NEGOTIATED ISSUE

An entity’s security issuance not open to competition, with terms strictly limited by the security’s issuer directly. Instead of using fund writers, an underwriter is appointed.

NET ACCOUNTS RECEIVABLE

Accounts receivable amount collectable by the firm’s reasonable confidence. Formula: Accounts receivable minus the bad debt allowance.

NET COST

Calculated as: In a specific time period, total premiums paid minus the total cash value minus any policy dividends generated. Insurers make comparisons of net cost every ten or 20 years if

NET INCOME MULTIPLIER

An asset’s worth as an amount, calculated over time, measuring the asset’s income produced.

NET MIGRATION RATE

People moving into a country counted minus people moving out of the same country counted. High migration counts (in) or emigration counts (out) can cause unemployment problems in specific areas as either

NET PURCHASES

Allowances, discounts, and returns subtracted from total items purchased amount.

NET SURPLUS

after certain operating expenses are subtracted from recognized revenue, this amount results. Tax and dividend payments are part of the operating expenses.

NETWORK

1. In Computers, this is an interconnected computers and peripherals grouping that shares software and hardware resources between many users. Connections occur by cable and/or wireless. The Internet is a global network

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This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.