- Waiver Of Notice
A legal document that waives the right to formal notification. It may be used in a number of situations, such as during the process of probating a will, or when a corporate Board of Directors needs to hold an emergency meeting. The use of a waiver of notice is commonly to allow legal proceedings to be more timely and efficient.
For example, as probate court deals with vital and sensitive issues such as wills, estates and trusts, one of the most fundamental requirements with a probate court proceeding is adequate notice to interested parties. In probating a will, a waiver of notice consents to the appointment of an administrator or executor and waives notice of the hearing on the petition. While a waiver of notice enables the probate case to proceed in a timely and efficient manner, the risk is that by waiving notice, an interested party may fail to be present when required for an important hearing.
Investment dictionary. Academic. 2012.
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