L. Lat. No award. The name of a plea in an action on an arbitration bond, for not fulfilling the award, by which the defendant traverses the allegation that there […]

L. Lat In pleading. The name of a plea to an action of debt upon an obligation for the performance of an award, by which the defendant denies that he […]

In English law . A name given to the statute 3 Geo. III. c. 16, because that act. in contravention of the maxim “Nullum tempus occurrit regi,” (no lapse of […]

The average number of days that an item spends as a part of an inventory, expressed as a ratio. It is used to determine the quality of inventory control and […]

The allocation of a unique number to identify an account holder instead of his name. All banks follow this system of allocation and reference.

1. Economics: A commodity that is the basis on which the prices of all other commodities are measured. 2. Finance: The currency that is the basis of expression for all […]

Lat. In the civil law . Money told or counted; money paid by tale. Inst 3, 24, 2; Bract, fol. 35.

The probability that an item will fulfill its operations for the duration specified without being spoilt.

The determination of the policy rate for the insured who falls below standards. A value of 100 is assigned to an insured who meets standards stated on the policy. Depending […]

he price of anything in money, as denariata is the price of a thing by computation of pence, and librata of pounds.

An acre of land. Spelman.

Lat. Now for then. A phrase applied to acts allowed to be done after the time when they should be done, with a retroactive effect, i. e., with the same […]

Lat. In the civil law . A solemn declaration , usually in prohibition of a thing; a protest

The permanent official representative of the pope at a foreign court or seat of government . Webster. They are called “ordinary” or ” extraordinary ,” according as they are sent […]

In international law . A, messenger; a minister; the pope’s legate, commonly called a “nuncio.”

Lat. In the civil law . To name; to pronounce orally or in words without writing.

To declare publicly and solemnly.

A will which depends merely upon oral evidence, having been declared or dictated by the testator in his last sickness before a sufficient number of witnesses, and afterwards reduced to […]

Traffic at fairs and markets; any buying and selling. Nunquam crescit ex postfacto prae- teriti delicti sestimatio. The character of a past offense is never aggravated by a subsequent act […]

Lat. In the civil and old English law. A fair. In nundinis et mer- catis, In fairs and markets. Bract, fol. 56.

Lat. Never indebted. The name of a plea in an action of indebitatus assumpsit , by which the defendant alleges that he is not indebted to the plaintiff. Nunquam nimis […]

In old English practice. A messenger. One who was sent to make an excuse for a party summoned, or one who explained as for a friend the reason of a […]

Lat. In practice . The name of a writ (now abolished) which, in the English law, lay for a sister co-heiress dispossessed by her coparcener of lands and tenements whereof […]

Lat. A second marriage. In the canon law, this term included any marriage subsequent to the first.

Pertaining to marriage; constituting marriage; used or done in marriage. Nuptias non concnbitns sed consensus facit. Co. Litt. 33. Not cohabitation but consent makes the marriage.