W3Schools.com and I\'m pretty sure I remember seeing W3C.org state that should be used for Toolbar menus and listing form control commands.
The best place to get this answer is the HTML 5 standards them self.
Menu is defined in HTML 5.1 2nd Edition.
It, "... represents a group of commands."
Nav is defined in HTML 5.
It is, "... a section of a page that links to other pages or to parts within the page: a section with navigation links."
There are notes for nav that I didn't include but think are important, but I think its best for you to get the definition yourself from the standards.
The definitions marked in this post as the answer are close to correct but have extraneous statements in them that make the answer itself wrong.