What is a notional in law?

What is an example of a notional?

Meaning of notional in English. existing only as an idea, not as something real: Almost everyone will have to pay a higher tax bill than the notional amount suggested by the Treasury Secretary. abstractHappiness, faith, and confidence are abstract qualities.

What is a synonym for the word notional?

What is an example of a notional agreement?

That means, for example, that in a construction such as "a crowd of revelers," one might be more inclined to select a verb form that agrees with the plural noun that is closer in the sentence to the verb (revelers) rather than the more distant singular noun (crowd): A crowd of revelers were approaching.

What is a notional claim?

A Notional estate allows a family provisions claim to include assets that have recently been distributed or not directly owned by the deceased before they passed away.

What is the purpose of notional amount?

The notional amount (or notional principal amount or notional value) on a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument. This amount generally does not change and is thus referred to as notional.

What is an example of a notional value?

Notional Value = Number of contracts × Ounces per contract × Gold Price. Notional Value = 10 × 100 × $1,500 = $1,500,000. That means the investor essentially controls a gold position with a notional value of $1,500,000.

What is notional damages?

Notional Damages means one-half (1/2) of the actual damages to the Company, the Buyer and the Parent caused by, arising out of or attributable to a breach of Section 3.01(s)(v), including reasonable lawyers' fees and expenses, if, and only if, the Buyer does not prevail in any claim of such breach, provided, Notional ...

How do you calculate notional?

Determining Notional Value

The notional value of the contract is calculated by multiplying the contract unit by the futures price.

What is another word for notional value?

Notional value is the same as face value, used to determine payments on a financial asset.

What is the doctrine of notional?

The doctrine of notional extension is a theory that prescribes that compensation is to be paid to the workers in case of an accident during the course of employment, but the actual cause of adopting this theory was to include within its scope, the injury and danger originated due to employment but not necessarily at ...

What does notional only mean?

abstract. existing only in the mind; separated from embodiment. adjective. not based on fact or investigation. “a notional figure of cost helps in determining production costs”

What is an example of notional?

The notional earnings of the company were close to the actual ones. The dates for such a mission are so notional that NASA did not even include them on its chart.

What is the notional settlement amount?

A fictional amount on which the payments of the parties to a derivatives contract are based, usually used in the context of swaps, such as interest rate swaps or credit default swaps (CDS). The amount is "notional" because there is no actual exchange of principal amounts under the contract.

What is a notional entitlement?

Notional Entitlement means an Authorized Claimant's notional damages as calculated pursuant to the formulae set forth herein, and which forms the basis upon which each Authorized Claimant's pro rata share of the Net Settlement Funds is determined.OBJECTIVE 2.

What is an example of a notional transaction?

For instance, the notional amount of a futures contract for 1,000 barrels of oil at ₹60 per barrel would be ₹60,000. The market price of the underlying asset times the agreed-upon amount in an options transaction is the notional amount.

What is the difference between a formal and a notional agreement?

The sort of noun-verb match we've been talking about is formal agreement (“A crowd was”). Notional agreement, in contrast, has the verb reflect how the speaker is thinking about the subject. Since a crowd contains many people, it is acceptable to use “were.” In essence, the verb agrees with the meaning of the sentence.

What is a notional sentence?

A notional noun is a person, place or thing. A notional verb is a doing word. A notional sentence is a complete thought.

What is another name for notional cost?

In economics, an implicit cost, also called an imputed cost, implied cost, or notional cost, is the opportunity cost equal to what a firm must give up in order to use a factor of production for which it already owns and thus does not pay rent.

What is a notional plan?

Notional accounts are designed to mimic a defined contribution plan, where the pension depends on contributions and investment returns. (For this reason, they are sometimes called notional, defined-contribution schemes). Pension contributions are tracked in accounts which earn a rate of return.

What is the short form of notional?

Notional Value (NV), or simply, Notional, refers to the value of the underlying asset in a derivative contract. NV is applicable to several investments including options, futures, currencies, as well as forward contracts. It is simply the face value of the underlying asset on which payments are based upon.