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LSDefine
Simple English definitions for legal terms
nominal
Read a random definition: mortgage company
A quick definition of nominal:
Nominal: Something that exists only in name, but not in reality. For example, a king who has no real power is a nominal figurehead. It can also refer to a price or amount that is very small compared to what is expected. Nominal can also describe something that is related to a name or term.
Example: The lamp was sold for a nominal price of ten cents, which means it was sold for a very small amount of money.
Adverb form: Nominally
A more thorough explanation:
Definition: Nominal (nahm-uh-nuhl) is an adjective that can mean:
- Existing in name only, without any real power or authority. For example, "The CEO was a nominal leader, as the board made all the important decisions."
- Small or insignificant, especially when compared to what was expected. For example, "The rent was only a nominal amount, much lower than the market rate."
- Related to a name or term, rather than the actual thing it represents. For example, "The nominal value of the company's assets was much higher than their actual worth."
Examples:
- A king who has no real power is a nominal figurehead.
- A product that is sold for a very low price, much lower than its actual value, is said to have a nominal price.
- A nominal definition is one that explains the meaning of a word or term, rather than describing the thing itself.
The examples illustrate how nominal can be used to describe something that is only in name, or something that is much smaller or less significant than expected. It can also refer to something that is related to a name or term, rather than the actual thing it represents.