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

MUTUAL FUND SUBADVISOR

A fund manager’s hired assistant in managing investment portfolios. A sub-advisor works outside of the fund itself as a money manager. With the goal of reaching specific objectives, sub-advisors are authorized to

MUTUALLY EXCLUSIVE

Logically condition where only one choice can be made, thereby excluding all other choices.

MUTUALIZATION

Retiring the purchased stock of an insurer. Converting a stock insurer to a mutual insurer is done this way.

MYSTERIOUS DISAPPEARANCE

Unexplainable loss of assets in an event beyond occurrences like a robbery. This term gives broader coverage than specific everyday perils like robbery.

NAIVE FORECASTING

Without adjusting or establishing causal factors, using the last period’s actuals to estimate this period’s forecast by this unremarkable technique. Used only to compare against forecasts generated by better, more sophisticated techniques.

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

NAMED PERILS

Covered on an insured property are specific types of losses’ potential causes..

MUTUALITY DOCTRINE

All contracting parties must enforce a contract for the contract to be legally enforceable, as a legal principle.

MULTI-STEP FLOW THEORY

A theory stating that information moves in multiple directions as each consumer of this information passes it on along with their own interpretation of it. This information usually is from media outlets.

NARCOTIC

Trichloromethane (CHCl3) or chloroform is an example of a substance that causes narcosis.

NARCOSIS

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

NARROW MOAT

A small competitive advantage one company may have over other competing firms operating in the same or similar industries. A narrow moat provides a very limited economic benefit lasting a short time,

NARROWBODY AIRCRAFT

Used mainly for short and medium hauls, Airbus A319 and A320, Boeing 717, 727, 737, and 757, McDonnel Douglas DC9, MD 80, and MD 90 are all examples of this type of

NASDAQ OTHER

This system keeps tabs on certain bids and offers not listed on NASDAQ or not quoted.

NAPHTHA

Volatile and highly flammable hydrocarbon liquid. Mixtures group member derived from coal tar or petroleum in specific distillation ranges. Contain large aromatic compounds’ proportions. Used mainly as solvents and paint thinners, naphthas

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.

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.

NATIONALIZATION

A government takes over a privately owned corporation, industry, and resource, often without compensation, but sometimes with. (1) Preventing unfair exploitation and large-scale labor layoffs, (2) Distributing income from national resources fairly,

NATIONAL LABOR RELATIONS ACT (NLRA)

Designed to protect employee and employer rights, encourage collective bargaining, and prohibit particular management policies detrimental to the healthy of businesses, workers, and the US economy. Enacted by Congress in 1935.

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