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N




nonimmigrant visa

A U.S. visa that allows an individual to come to the United States temporarily and for a limited purpose. Each nonimmigrant visa comes with a different set of privileges, such as the right to work or study. In addition to a descriptive name, a letter of the alphabet and a number identifies each type of nonimmigrant visa. Student visas, for example, are F-1 or M-1 and investors are E-2. Nonimmigrant visas also vary according to how long they permit you to stay in the United States. For example, on an investor visa, you can remain for many years, but on a visitor's visa, you can stay for only six months at a time.





nonobviousness

A requirement for obtaining a patent. An invention is nonobvious if it would be viewed as an unexpected or surprising development by someone skilled in the technology of the particular field. For example, Babe Ruth III invents an electronic device that can signal whether a pitch is a ball or a strike. Babe's patent application is rejected on the ground that similar technology has been developed for television commentators and that Babe's invention extending these prior art developments to the game itself is obvious (in patent-speak, it "lacks nonobviousness") and is therefore not patentable.





nonprobate

The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surviving spouse and property left outside of a will through probate-avoidance methods such as pay-on-death designations, joint tenancy ownership, living trusts and life insurance. Property that avoids probate is sometimes described as the “nonprobate estate.” Nonprobate distribution may also occur if the deceased person leaves an invalid will. In that case, property will pass according to the particular state's laws of intestate succession.





nonprofit corporation

A legal structure authorized by state law allowing people to come together to either benefit members of an organization (a club, or mutual benefit society) or for some public purpose (such as a hospital, environmental organization or literary society). Nonprofit corporations, despite the name, can make a profit, but the business cannot be designed primarily for profit-making purposes, and the profits must be used for the benefit of the organization or purpose the corporation was created to help. When a nonprofit corporation dissolves, any remaining assets must be distributed to another nonprofit, not to board members. As with for-profit corporations, directors of nonprofit corporations are normally shielded from personal liability for the organization's debts. Some nonprofit corporations qualify for a federal tax exemption under § 501(c)(3) of the Internal Revenue Code, with the result that contributions to the nonprofit are tax deductible by their donors.





nonrefundable ticket

An airline ticket for which you cannot get your money back if you decide not to travel. Each airline has its own policies and exceptions regarding nonrefundable tickets. For example, many airlines will allow you to apply the amount of an unused ticket towards a later flight, subject to a fee.





nontransferable ticket

An airline ticket that can be used only by the passenger whose name appears on the ticket. All airlines require passengers to show ID when they check in, and an airline can confiscate a ticket if the names on the ID and on the ticket don't match.





notarize

Certification by a notary public to establish the authenticity of a signature on a legal document. Many legal documents, such as deeds and powers of attorney, are commonly notarized.





notary public

A licensed public officer who administers oaths, certifies documents and performs other specified functions. A notary public's signature and seal is required to authenticate the signatures on many legal documents.





novation

The substitution of a new contract for an old one. A novation may change one of the parties to the contract or the duties that must be performed by the original parties.





novelty

A requirement for obtaining a patent. To be novel, an invention must be physically different in some way from all previous inventions.





nuisance

Something that interferes with the use of property by being irritating, offensive, obstructive or dangerous. Nuisances include a wide range of conditions, everything from a chemical plant's noxious odors to a neighbor's dog barking. The former would be a "public nuisance", one affecting many people, while the other would be a "private nuisance", limited to making your life difficult, unless the dog was bothering others. Lawsuits may be brought to abate (remove or reduce) a nuisance. See quiet enjoyment, attractive nuisance.





nuisance fees

Money charged by some credit card companies to increase their profits when you fail to use the card the way the creditor wants. Examples include late payment fees, inactivity fees and fees for not carrying a balance from month to month. It's best to shop around and get rid of cards that have these fees attached.





nulla bona

Latin for "no goods." This is what the sheriff writes when she can find no property to seize in order to pay off a court judgment.







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