By: Martin M. Shenkman, CPA, MBA, JD
A formal legal method of informing someone of an event or right. In many contracts (e.g. a shareholders' agreement) provisions are provided for how to give a formal notice that an event has occurred. For example, in a shareholders agreement wherein any shareholder can resign, the shareholders agreement may require that a shareholder who wants to resign to give notification (notice) by sending a certified letter to the corporation at its headquarters and to each shareholder.
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