Related Words

Notice Day: A day on which notices of intent to deliver pertaining to a specified delivery month may be issued. Related: Delivery notice.

Notice Of Completion: A document recorded to give constructive notice that a building job has been completed.

Notice Of Default: A notice to a defaulting party announcing that a default has occurred. The defaulting party is usually provided a grace period during which to cure the default. Notices of default are freque . . . View Full Definition

Notice Of Deliquency: In junior financing, where the borrower gives the senior lender permission to notify the junior lender in the event of a default.

Notice Of Cessation: A notice that gives subcontractors 30 days and gives prime contractors 60 days to file liens from the date of cessation of work.

Notice Of Nonresponsibility: A legal notice designed to relieve a property owner of responsibility for the cost of improvements ordered by another person (such as a tenant). The owner usually gives notice that he or she . . . View Full Definition

Nirvana Day: Mahayana Buddhists are one type of Buddhists. Many of them are Japanese. They celebrate February 13 as the anniversary of Buddha's death. For Buddhists, this is not a sad day, but a time to . . . View Full Definition

Notice: In wrongful discharge cases, this doctrine is used to determine whether or not an employer gave an employee adequate advanced notice of the potential consequences if a specific behavior or c . . . View Full Definition

Next Day Settlement: Transaction in which the contract is settled the day after the trade is executed. See: Settlement date.

Notice Of Right To Cancel: Under federal law, you may be permitted to cancel or 'rescind' a mortgage loan within a specified time, generally three days, after you have signed loan documents in a refinance, second mort . . . View Full Definition