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

NON-COMMERCIAL ADVERTISING

Advertisements such as public service announcements that are aimed at educating the consumers or instilling an idea in them. They are often used in the electoral process to gain votes.

NONCLAIM

The loss of a right due to a failure to claim or pursue it within a specified legal period.

NONBUSINESS INCOME

Income that is received from passive sources such as the appreciation of a real estate property and as such they fall under the tax related category of income.

NONCOMPETITIVE TENDER

An investor’s bid to gaining possession of a debt issue whose price depends on the yield or average discount rate of all bids combined. A minimum price of $10,000 is the standard

NONCONFORMANCE COSTS

Costs that occur when product quality is not up to standard. It also results due to production imperfections and includes both internal and external costs.

NON-CONTRIBUTORY PENSION PLAN

Fringe benefits to the employee wherein he is not required to contribute and all related retirement plan costs are borne by the government and/or employer.

NONCONTRIBUTORY

An insurance wherein the full premium cost is borne by the employer, with no contribution from the employee.

NONCONFORMITY

Occurrence of an situation due to the nonfulfillment of the prescribed standards and specifications.

NONCONFORMANCE

Also referred to as defect, it occurs when specific requirements are not fulfilled

NON-CORE ACTIVITIES

Services that are outsourced to third parties due to their non-involvement in the value proposition of the firm to their customers. This includes services such as installation and maintenance.

NONCOOPERATION

Several companies within the same field or industry who are independent but lack cooperation between each other.

NON-CRITICAL FAILURE

The cause of the degradation with respect to the quality of performance and operational capacity, the impact of which is tolerable for a small period of time without major losses.

NONCUPATIVE WILL

A will stated by a person on his death bed in the accompaniment of witnesses.

NONCUMULATIVE PREFERRED STOCK

A type of stock that does not require the company to pay a dividend to the shareholder due to a failure to meet the financial benchmark. In the event of a missed

NON-CONVENTIONAL FINANCE

The modification of loan terms that grants eligibility to borrowers with very limited financial strength. The term ‘non-conventional’ is used an indication of the tools employed to modify the loan terms and

NONCONCURRENCY

The discrepancy that causes the underinsurance of property in the event of a loss. This occurs when the same property is covered for the same danger by different policies, but differ in

NON-BASE BUDGET

Often a budget for a onetime project, such as the recruitment of staff on a temporary basis, or a special project, that is assigned to a department in a company as a

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