nominal

Titular; existing in name only; not real or substantial; connected with the transaction or proceeding in name only, not in interest. Park Amusement Co. v. McCaughn, D.C.Pa., 14 F.2d 553, 556.

Not real or actual; merely named, stated, or given, without reference to actual conditions; often with the implication that the thing named is so small, slight, or the like, in comparison to what might properly be expected, as scarcely to be entitled to the name; e.g., a nominal price. Lehman v. Tait, C.C.A.Md., 58 F.2d 20, 23

@ nominal account

In accounting, an income statement account which is closed into surplus at the end of the year when the books are balanced

@ nominal capital

Very small or negligible capital, whose use in particular business is incidental. Strayer's Business College v. Commissioner of Internal Revenue, C.C.A.Md., 35 F.2d 426, 429.

Capital in name only and which is not substantial; not real or actual; merely named, stated, or given, without reference to actual conditions. Feeders' Supply Co. v. Commissioner of Internal Revenue, C.C.A.Mo., 31 F.2d 274, 276

@ nominal defendant

A person who is joined as defendant iN an action, not because he is immediately liable in damages or because any specific relief is demanded as against him, but because his connection with the subject-matter is such that the plaintiffs action would be defective, under the technical rules of practice, if he were not joined.

See also parties

@ nominal party

See nominal defendant

- parties

@ nominal payee rule

Refers to a U.C.C. Article 3 provision, No. 3-405(lXb), which renders effective any person's indorsement of an instrument drawn by a person who intends the payee to have no interest in the instrument.

@ nominal trust

A dry or passive trust in which the duties of the trustee are minimal and in which the beneficiary has virtual control

@