The Law Dictionary

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

Category: N

NEPOTISM

Appointing unqualified relatives and friends to positions in one’s organization when an outsiders might be better qualified. Typically connected with political office. Where complete trust and willingness to work hard for little

NET LIQUID ASSETS

The valued instrument amount easily converted to cash after deducting operating expenses from total income.

NET PROCEEDS

Sale of goods, property, or securities whose transaction cost have been deducted, has an actual amount received.

NET REVENUE

Any returns and any other negative revenue subtracted from gross total.

NET-NET

Company’s valuation a working-capital basis. Calculated as: accounts receivables plus cash at full value minus uncollectible accounts totaled. Benjamin Graham introduced this company valuation method.

NEUTRAL PARTY

Impartial third-party requested to mediate a controversy, dispute, or issue in which it has no financial, official, or personal interest. This third-party is obligated to the involved parties to fully disclose if

NEW YORK MERCANTILE EXCHANGE (NYMEX)

For the precious metals and energy markets, one of the most active options exchanges is this specific commodities futures’ exchange, the world’s largest. NYMEX has two divisions: NYMEX, for trading energy, platinum,

NEWSPRINT

because of its short life span, wood pulp paper is used for newspapers but not for books or records. Pulp is absorbent, coarse, off-white or light brown, and soft.

NITRATE (NO3)

Inorganic or organic ester or nitric acid salt containing the (NO3) ion. Nitrates play a major part in nitrogen cycle and nitrate pollution. They are the most water soluble of all salts.

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.

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.

NON-CONCURRENCY

When insurance policies are not properly arranged and do not give enough protection.

NAKED CALL

By not owning the underlying asset and having the call’s exercise value amount deposited n a cash account the option writer has this specific type of exposed short call trading position. Contrast

NARCOSIS

Narcotic substance inhalation or ingestion produces this specific type of stupor, arrested activity, even unconsciousness.

NATIONAL ASSOCIATION OF MANUFACTURERS (NAM)

Originally founded in 1895, this is a manufacturing companies’ advocate organization assisting their employees. This organization aids domestic manufacturers export product, and helped organize our current U.S. Commerce Department.

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