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No capacity to contract
No capacity to contract The inability of a person to enter into a valid contract under any circumstances.
RELATED TERMS--------------------------------------
Valid A binding situation that is authorized and enforceable by law.
Contract A legal agreement between entities that requires each to conduct (or refrain from conducting) certain activities.
SIMILAR TERMS--------------------------------------
No cash-out refinance A refinance transaction which is not intended to put cash in the hand of the borrower.
PREVIOUS AND NEXT TERMS--------------------------------------
New urbanism A community design philosophy that favors the return of new-home development with such traditional features as prominent front porches, backyard garages, multi-use buildings and housing clustered near commercial service areas.
NFCC The National Foundation for Consumer Credit is a nonprofit organization that educates consumers about using credit wisely.
Niche A small recessed area in a wall, traditionally arched at the top.
Niche banks Smaller banks that cater to particular communities or certain industries.
NIMBY (Not In My Backyard) A term, usually used derisively by people who don't live in the affected vicinity, to describe residents' opposition to the introduction of something they don't want in their neighborhood, such as a group home, toxic waste incinerator or prison.
No capacity to contract
No cash-out refinance A refinance transaction which is not intended to put cash in the hand of the borrower.
No documentation loan A mortgage in which the applicant provides a minimum of information (name, address, Social Security number and contact information for an employer).
No loan, no commission A listing agreement requiring that escrow be closed and title transferred before an agent is entitled to a commission.
No-competition lots A lot in which the buyer's home will be constructed by a particular builder.
No-doc loan Short for "no-documentation loan." A mortgage in which the applicant provides a minimum of information (name, address, Social Security number and contact information for an employer).
This dictionary contains 6433 terms. |
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