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A nominal fee refers to a sale of a good or service for far less than it is actually worth, when it cannot be given away for free. Typically, such a sale will be for the smallest full denomination of a currency (for example, one dollar).[1] Nominal fees are necessary when contracts are signed, since in order for a contract to be valid, some form of payment must be involved.[1]
 | This article may relate to a different subject or has undue weight on an aspect of the subject. Specifically, this page may lend undue weight to nominal-fee transactions in the railway field. (April 2022) |
In 2006, the Quebec North Shore and Labrador Railway sold a 135 mile long rail line to Tshiuetin Rail Transportation for $1. Tshiuetin was formed by several First Nations communities to continue railroad service on the line, which formerly was used for transporting minerals.[2]
- Peppercorn (legal) Similar concept, specific to United Kingdom law
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