NEGLIGENCE:
The omission or neglect of reasonable precaution,
care or action.
NEGOTIABLE:
Capable of being legally transferred by endorsement
from one person to another, such endorsement carrying
with it, without written provisions, implications
of certain contractual obligations.
NEGOTIABLE
INSTRUMENT:
Instrument, e.g., a promissory note or check meeting
certain legal requirements, that allows it to
circulate freely in commerce.
NET
LISTING:
The listing, with a broker, of real estate for
sale for a specified price, net to the seller,
exclusive of commission and closing costs.
NOMINEE:
Party designated to act in place of the original
buyer in a real estate transaction. Does not act
on own behalf, but as trustee for real party.
NON-INTERCOURSE
ACTS:
The refusal of one state or nation to have commercial
dealing with another. Similar to an embargo. Generally
relates to Indians and dealings with Indians.
NOTARIZE:
To prove execution of a document by means of a
notary public's certificate of acknowledgment.
NOTARY
PUBLIC:
A person authorized by law to take acknowledgments
and to administer oaths.
NOTE:
An instrument containing an express and absolute
promise of signer (i.e. maker) to pay to a specified
person or order, or bearer, a definite sum of
money at a specified time. Two party instrument
made by the maker and payable to payee which is
negotiable if signed by the maker and contains
an unconditional promise to pay sum certain in
money, on demand or at a definite time, to order
or bearer. U.C.C. Sec. 3-104(1). A note not meeting
these requirements may be assignable but not negotiable.
Black's Law Dictionary, 5th Edition. (See "Promissory
Note.")
NUISANCE:
Anything that is offensive and works an injury
or harm to a person or property. May be either
a public nuisance (offends the general public)
or a private nuisance (offends one property owner.)
NUNC
PRO TUNC:
"Now for then" a tardy act made retroactive
to take effect as of the time it should have been
done.
