A nominal sum given as a token for striking a sale is called ........

General Knowledge (CLAT) Legal Phrase

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A nominal sum given as a token for striking a sale is called

Earnest money

Advance

Interest

Solatium.

Explanation:

An earnest payment is a specific form of security deposit made in some major transactions such as real estate dealings or required by some official procurement processes to demonstrate that the applicant is serious and willing to demonstrate an earnest of good faith about wanting to complete the transaction.