Notice of Default
Notice under a Contract from one party to another of the other's Default. Under a construction contract, there may be specific requirements for such a notice, and specified consequences upon its issue.
Notice of Delay
Notice under a Contract from one party to another advising of a delay which has been caused to the obligations to be performed under the Contract. Under a construction Contract, there may be specific requirements for such a notice, and specified consequences upon its issue.
Notice of Dispute
Notice under a Contract from one party to another advising of the matters in dispute between them. Under a construction contract, there may be specific requirements for such a notice, and specified consequences upon its issue.
Notice to Show Cause
See Notice of Default: Notice under a Contract from one party to another of the other's Default. Under a construction contract, there may be specific requirements for such a notice, and specified consequences upon its issue.
Novation
An agreement by the incoming, outgoing and continuing parties to a Contract to discharge the Contract and enter a new one on the same terms. The new (incoming) party is substituted for another (outgoing) party to the Contract with the continuing parties.
Nuisance
Any unreasonable interference with another party’s use or enjoyment of a site or neighbouring land to that site and may include anything that:
- impacts on the welfare of the public;
- causes or is likely to case, a risk to public health;
- gives rise to unreasonable or excessive levels of noise or pollution;
- is, or is likely to be, a fire risk; or
- constitutes an unsightly article or rubbish
Native Title
The rights and interests of Aboriginal or Torres Strait Islanders in relation to land or waters under acknowledged traditional laws and observed traditional customs, where there is a connection or interest in relation to the land or waters. The rights and interests are recognised by the common law of Australia and the Native Title Act 1993 (Cth).
Negligence
A cause of action in Tort that consists of three elements: a Duty of Care; a breach or contravention of that duty; and a measurable loss or material damage flowing from or as a consequence of the breach of the duty.
Negotiation
Discussion and agreement of the terms of a transaction or Contract.
Net Present Value
The sum of anticipated future costs and benefits of a project, discounted to present value, where the discount rate reflects the cost of capital.