Exam (elaborations)
LPL4805 Assignment 1 Semester 2 2024 - DUE 20 August 2024
- Course
- LPL4805 (LPL4805)
- Institution
- University Of South Africa (Unisa)
QUESTIONS WITH ANSWERS LPL4805 Assignment 1 Semester 2 2024 - DUE 20 August 2024
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[Date]LPL4805 Assignment 1
Semester 2 2024 - DUE
20 August 2024
QUESTIONS WITH COMPLETE ANSWERS
, LPL4805 Assignment 1 Semester 2 2024 - DUE 20 August 2024
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 terminated? (7)
Question 1: Purpose of Notarial Noting and Protest
Notarial Noting: Notarial noting is the formal process where a notary public
records the dishonor of a negotiable instrument, such as a bill of exchange,
promissory note, or check, when it is not accepted or paid. The purpose of notarial
noting is to provide a legal and official acknowledgment of the dishonor, which
serves as evidence in legal proceedings.
Purpose:
• Evidence of Dishonor: Notarial noting provides conclusive proof that the
negotiable instrument was presented and dishonored, which is crucial in
legal disputes.
• Preservation of Rights: It helps preserve the holder's right to take legal
action against the parties liable on the instrument, such as the drawer,
endorsers, and guarantors.
• Credibility: The notary's official status adds credibility and authenticity to
the record of dishonor.
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