Category: N

A clause in a business sale transaction that denies access to the seller from conducting a similar business in the specified area for a certain period of time, usually three years.

Neglect, failure, or refusal to deliver goods, on the part of a carrier, vendor, bailee, etc.

A dealer who does not expose his trading to the market and just gives it to his clients. This is illegal.

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

A mortgage that includes non residential items such as pools.

An insurer not allowed to sell insurance in the insurers state.

A member of a clearinghouse that is must first put their trades through a trading member.

Lack of requisite legal age. The condition of a person who is under twen- ty-one years of age, in some cases, and under fourteen or twelve in others; minority. Non alio modo puniatnr aliqnis quam secundum quod se babet condemnatio. 3 Inst. 217. A person may not be punished differently than according to what the sentence enjoins. Non aliter a signiflcatione verborum recedi oportet quam cum manifestum est, aliud sensisse testatorem. We must never depart from the signification of words, unless It is evident that they are not conformable to the will of the testator. Dig. 32, 69, pr.; Broom, Max. 508.

Also referred to as interest only loan, it is an arrangement on a loan which requires the borrower to pay periodic installments to cover only the interest amount. The principal amount is paid all at once at the end of the loan period.

A non- continuous or discontinuous easement Fetters v. Humphreys, 18 N. J. Eq. 262. See EASEMENT.