LPL4805 Assignment 1 Semester 2 2024 | Due 20 August 2024 - Answered with page number references.
Question 1.
Explain the purpose of notarial noting and protest an indicate its procedural benefit.
(7)
Question 2.
2.1. Discuss the characteristics of servitudes. (6)
2.2. How may servitudes be...
LPL4805 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 - DUE 20 August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
LPL4805 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 - DUE 20 August 2024
LPL4805 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 - DUE 20 August 2024
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NOTARIAL PRACTICE (LPL4805)
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Question 1
1. Explain the purpose of notarial noting and protest an indicate its procedural benefit.
The Purpose of Notarial Noting and Protest: Procedural Benefits
In the realm of commercial transactions, particularly those involving negotiable instruments such as
bills of exchange, cheques, and promissory notes, the procedures of notarial noting and protest play a
crucial role. These processes provide a formal and legal mechanism to address instances of
dishonour, ensuring the protection of the interests of the parties involved.
Notarial noting and protest serve as formal processes to record and address the dishonour of
negotiable instruments. These instruments, which include bills of exchange, cheques, and promissory
notes, are fundamental in commercial transactions, acting as promises of payment. When such
instruments are dishonoured—either due to non-acceptance or non-payment—the holder of the
instrument must take specific steps to preserve their right to recourse against the endorsers or the
drawer. Notarial noting and protest are these essential steps, providing a structured and legally
recognized method to document and communicate the dishonour.
Notarial Noting
Notarial noting is the preliminary step taken when a negotiable instrument is dishonoured. It involves
a notary public recording the fact of dishonour through a noting slip. This slip includes details such
as the presentment of the bill, the demand for payment or acceptance, and the response received (if
any). The primary purpose of notarial noting is to create an official and contemporaneous record of
the dishonour. This record serves as prima facie evidence, meaning it is accepted as correct until
proven otherwise, of the dishonour in any subsequent legal proceedings.
The procedural benefit of notarial noting lies in its ability to provide immediate and credible
evidence of the dishonour. This evidence can be critical in situations where the holder of the
instrument needs to take swift legal action to recover the amount due. Additionally, noting acts as a
formal notification to the parties liable on the instrument, informing them of the dishonour and the
intention of the holder to pursue further action.
Notarial Protest
Following the noting of a dishonoured instrument, the next step is notarial protest. A protest is a
formal, written statement by the notary public declaring that the negotiable instrument was presented
for payment or acceptance and was subsequently dishonoured. The protest document includes a copy
of the instrument, the particulars of the presentment, the reasons for dishonour, and the notary's
signature.
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