Define: Commercial-Law Notice

A commercial-law notice is a legal notification that is required by law or agreement, or given by operation of law due to a certain fact. It is a means of providing someone with definite legal awareness, whether it be actual or constructive, of an existing right or title. A person is considered to have notice of a fact or condition if they have actual knowledge of it, have received information about it, have reason to know about it, are aware of a related fact, or can be deemed to have discovered it by checking an official filing or recording. According to the UCC, notice of a fact can arise from either actual knowledge or notification of the fact, or from circumstances that would give a person reason to know about the fact.

A commercial-law notice is a legal notification that is required by law or agreement, or is automatically given as a result of certain circumstances. It is a clear recognition, either actual or implied, of an existing right or title. A person is considered to have notice of a fact or condition if they have actual knowledge of it, have received information about it, have reason to know about it, know about a related fact, or can easily find out about it by checking an official filing or recording.

For instance, if a tenant is obligated to give the landlord written notice 30 days before moving out, the tenant must provide notice to the landlord. If the tenant fails to do so, the landlord can take legal action against them. According to the UCC, notice of a fact can arise from actual knowledge, notification of the fact, or circumstances that would make a person aware of the fact. This means that if a person has reason to know about a fact, they are considered to have notice of it. For example, if someone sees a “no trespassing” sign on a property, they have reason to know that entering the property is not allowed.

Other types of notices include:
– Actual notice: Notice that is directly given to or received personally by a party.
– Constructive notice: Notice that is assumed by law based on the existence of facts and circumstances that a party should have been aware of.
– Implied notice: Notice that is inferred from facts that a person had the means to know and is therefore attributed to that person.
– Judicial notice: Notice taken by a court of a fact that is not subject to reasonable dispute because it is widely known or can be easily determined from publicly available sources.

For example, if someone purchases a property with a recorded deed, they have constructive notice of the contents of the deed. This means that they are legally considered to have notice of the rights and restrictions associated with the property. In intellectual property law, a formal sign attached to an item that represents an intellectual property right is also considered a notice. For instance, a patent holder may include the word “patent” and the item’s patent number on the item to provide notice of the patent. A copyright notice can take various forms, such as the symbol with the letter C in a circle or the word “Copyright,” followed by the copyright owner’s name and the year of first publication.

This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.

This glossary post was last updated: 17th April 2024.