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See anti-lapse statute. … [Read more...] about NONLAPSE STATUTE

To keep secret, not to disclose to others. See nondisclosure agreement where parties agree not to disclose or keep confidential private and non-public information concerning the parties to a transaction. … [Read more...] about NONDISCLOSURE

Not subject to be levied upon. Non-leviable assets are assets upon which an execution cannot be levied. Farmers' F. Ins. Co. v. Conrad, 102 Wis. 387, 78 N. W. 582. Non licet quod dispendio lioet. That which may be [done only] at a loss is not allowed [to be done.] The law does not permit or require the doing of an act which will result only in loss. The law forbids such … [Read more...] about NON-LEVIABLE

Most commonly an agreement where a newly hired employee ( prior to starting work) agrees in writing that, should the employee leave the company, he or she will not work for a competitor to the employer for a specified period of time and within a particular geographic area. Salespeople and other management level employees are usually the most common examples of employees who are … [Read more...] about NONCOMPETE AGREEMENT

A clause in an agreement which prohibits a person or party from competing in a similar niche, geographic area and for a certain time with a prior employer or with the purchaser of a business that has been sold. … [Read more...] about NONCOMPETE CLAUSE