Nominee Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Nominee, written in plain English, along with examples of how it is used.
What is Nominee?
1\) A political party to the election. 2) It refers to anyone or an entity entitled to act as a trustee or own something given in honour or gift, which is actually owned by someone else.
History and Meaning of Nominee
A nominee is a person or organization designated to act on behalf of another person or organization. The term has various applications in different fields, including politics, law, and business. In politics, a nominee is a candidate nominated by a political party to run for public office. In law, a nominee can be a trustee appointed to hold property or assets for the benefit of another individual or entity. In business, a nominee is someone who acts as a representative of a company, often in a legal or fiduciary capacity.
Examples of Nominee
Here are a few examples of how the term nominee might be used in different contexts:
- John Smith was nominated by the Democratic Party as their nominee for mayor in the upcoming election.
- As part of the estate planning process, Sarah appointed her brother as the nominee trustee of her family trust.
- The shareholders of the company appointed a nominee director to represent their interests on the board of directors.
- The nominee bank account was opened on behalf of the client by the financial advisor.
Legal Terms Similar to Nominee
Here are a few related legal terms that are often used in conjunction with the term nominee:
- Fiduciary: a person or organization that has a legal duty to act in the best interests of another party.
- Trustee: a person or organization that holds property or assets in trust for the benefit of another party.
- Agent: a person or organization authorized to act on behalf of another party.
- Proxy: a person or organization designated to vote on behalf of another party at a meeting or election.