Business Law Glossary: N
National Origin Discrimination: Discrimination on the basis of an employee's ethnicity. Negligence: Failure to exercise reasonable care to avoid injuring others or their property. Negligence includes both actions and failure to act. No Par Shares: Shares for which there is no designated par value. Non- Compete Agreement: A contract (or part of a contract) in which an employee promises not to work for a competing employer (or to set up a competing business) during, or for a certain length of time after, the employment with the employer. Non-Profit Corporation: A business organization that serves some public purpose, and therefore enjoys special treatment under the law. Nonprofits corporations, contrary to their name, can make a profit, but cannot be designed primarily for profit-making. Distributions upon liquidation typically must be made to another nonprofit.
At Munley, Munley & Cartwright, our goal is to provide exceptional legal services to our clients. We strive to achieve the highest standard of excellence for the protection of individual rights through team work and the use of our considerable resources and experience. For a free consultation regarding your legal concerns, contact us today for a free consultation or call us toll free at 1-800-318-LAW1.
