The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

NOMINAL PRICE Definition & Legal Meaning

Definition & Citations:

The price of an item which is estimated, and has no correlation to the market price. The sole purpose of the nominal price is to initiate a trade. It is used when the item is new and has an unestablished market price or when there is an uncertainty in the marketplace caused by the scarcity of the item.


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