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A nominee agreement is an agreement where one person agrees to act on behalf of another person in certain legal matters. A nominee agreement is like a power of attorney but may be broader in scope. A nominee may receive a payment for services or may agree to conduct the affairs of without charge.

Because a nominee is not legally obligated to complete the duties of the originally responsible party, if the contract permits the buyer to nominate another to take its place, arguably there is not an enforceable contract.

A nominee is generally understood to mean one who is appointed by the originally responsible party but who has not contractually agreed to assume those responsibilities. In a real estate transaction, typically the assignee or nominee becomes the buyer in place of the named buyer in the contract.

A nominee agreement is an arrangement between two parties where one person consents to acting as a director, secretary or shareholder for a company which is owned by someone else.

If a corporation is a nominee, income from assets for which it retains legal title is taxed to the corporation. If the corporation is a true agent, income is assessed to the party represented by the agent. The agent's client generally has equitable, but not legal, title. Legal title is retained by the agent.

Noun. nominate contract (plural nominate contracts) (law) a contract distinguished by a particular name, such as sale, insurance, or lease.

A nominee agreement is an agreement where one person agrees to act on behalf of another person in certain legal matters. A nominee agreement is like a power of attorney but may be broader in scope. A nominee may receive a payment for services or may agree to conduct the affairs of without charge.