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Nominalism |
Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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Nominalism The legal principle that the dollar amount of a debt remains the same regardless of the inflation rate. Inflation and deflation, which both change the real value of repayment, do not affect the amount of a debt recorded on a balance sheet. In theory, this places risks on both the lender and the borrower, but, in practice, the lender has most of the risk, as inflation, which reduces the real value of repayment, is more likely than deflation. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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