When the seller does not have the cash to buy the asset.
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NAKED SHORTING
The illegal short selling of securities that may not exist.
NAM
In old English law . A distress or seizure of chattels. As a Latin conjunction, for; because. Often used by the old writers in introducing the quotation of a Latin […]
NAMARE
L. Lat. In old records. To take, seize, or distrain.
NAMATIO
L. Lat. In old English and Scotch law. A distraining or taking of a distress ; an impounding. Spelman.
NAME
he designation of an individual person, or of a firm or corporation . In law a man cannot have more than one Christian name . Rex v. Newman, 1 Ld. […]
NAME POSITION BOND
If an employee working in a position listed in a bond causes loss by fraud, this specific type of fidelity bond will cover the insured.
NAME SCHEDULE BOND
This specific type of fidelity bond is very much like the name position bond . If an employee working in a position listed in a bond causes loss by dishonesty […]
NAMED INSURED
This person’s interests are protected under the policy that this insurance contract made specifically for this named individual or firm , typically the policyholder. More than one entity may be […]
NAMED NON-OWNER POLICY
A borrowed or rented car, driven by the renter who has this specific type of policy written.
NAMED PERIL POLICY
Insurance that only pays on the perils listed.
NAMED PERILS
Covered on an insured property are specific types of losses’ potential causes..
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 […]
NAMIUM
L. Lat. In old English law . A taking; a distress. Spelman. Things, goods, or animals taken by way of distress. Simplex namium, a simple taking or pledge. Bract, fol. […]
NANOTECHNOLOGY
Emerging technology at atomic or molecular levels. New materials with unique characteristics uses emerge from its manipulations and processes. Equivalent to microengineering .
NANTES, EDICT OF
A celebrated law for the security of Protestants , made by Henry IV. of France, and revoked by Louis XIV., October 2, 1685.
NANTISSEMENT
in French law , Is the contract of pledge; if of a movable, it is called “gage;” and if of an immovable, it is called “antichrHse.” Brown.
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 […]
NAPOLEONIC LAW
France’s Law. Rather than legal theories and principles, it is based largely on common sense rules. Five major codes comprise it: (1) Civil code, (2) Civil procedure Code, (3) Penal […]
NARCOSIS
Narcotic substance inhalation or ingestion produces this specific type of stupor, arrested activity, even unconsciousness.
NARCOTIC
Trichloromethane (CHCl3) or chloroform is an example of a substance that causes narcosis.
NARCOTIC DRUG ACT
the name of a federal act that makes it unlawful to buy, dispense and sell some narcotic drugs without a federal license.
NARCOTICS
term given to a group of drugs that includes morphine and heroin that reduce pain and produce sleep or stupor.
NARCOTICS ADDICT
the name that is given to a person who is dependent on a narcotic drug and will suffer withdrawals if he stops taking the drug.
NARR
A common abbreviation of “nar- ratio,” (q. v.) A declaration in an action. Jacob.