Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

waiver of protest

Read a random definition: resumption

A quick definition of waiver of protest:

When someone gives you a special piece of paper that promises to pay you money, it's called a negotiable instrument. If that paper can't be cashed in, it's called dishonor. Normally, you would have to go through a formal process called protest to show that the paper couldn't be cashed in. But sometimes, the person who gave you the paper will say that they don't want to go through that process. That's called a waiver of protest. It means they're giving up their right to protest and are okay with the paper not being cashed in.

A more thorough explanation:

Waiver of protest is when a party to a negotiable instrument gives up the right to formally protest the instrument in case of dishonor. This means that they will not require a notary public to make a written statement that the instrument was not paid or accepted.

For example, if someone writes a check to another person and the check bounces, the person who wrote the check may waive their right to protest the dishonor of the check. This means that they will not require a notary public to make a written statement that the check was not paid or accepted.

Waiver of protest is often used in financial transactions, such as when a bank issues a letter of credit. By waiving the right to protest, the parties involved can save time and money by avoiding the formalities of protest.

waiver-of-premium clause | waiver of service

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
babycat
18:22
@ChowieBean: yield protect?
18:23
do u guys have any recommendations for any LSAT prep websites that wont break my wallet
18:23
i rly liked powerscore! and babycat maybe yeah
18:24
ty :') ive been looking for some prep material but I've seen some where they're like $500 plus for prep material
18:25
7sage, lsatdemon, lsat hacks. check them out it seems like diff ppl have a preference. most offer free trial
babycat
18:25
7sage is $1/month if you can get fee waiver
babycat
18:26
that’s the first thing you should know. apply for a fee waiver through LSAC and it applies to some test prep companies too
@K0zhii: I would recommend LSAT Demon (they also have a fee waiver version) & the Loophole
I personally did not like 7Sage, but since it is so cheap w/ fee waiver it might be worth trying
18:34
@K0zhii: to summarize: 1: https://www.lsac.org/lsat/register-lsat/lsat-cas-fees/fee-waiver 2. check out the above mentioned prep companies, sign up/ 'try them on' and see if you have a preference (they are all a little different). 3. If you get an LSAC fee waiver, you can then use it to get discounted access to the prep companies. Hope this helps!
18:41
ugh berkeley public interest scholars is binding. idk what to do
18:41
what do u guys think with my stats. ED berk worth it or nah
18:41
bunny^? idk apply and cross that bridge when u get there imo but im clueless.
18:43
what a difficult decision hm. gotta research berk more ig
18:43
hey did u take the Nov lsat Chowie?
18:43
binding scares me but its the only chance at a full ride. and no i didnt i canceled
I mean it is not a bad option, unless you're shooting for HYS or something.
18:44
yeah harvard is def my dream
18:45
I believe regarding PI binding @ NYU? we came to the conclusion that: if you get it, it is binding IF u accept it, after you are admitted, chances are at that point u would know (likely) outcome @ other options. can anyone confirm?
@ChowieBean: Well if HLS is your dream, then don't apply binding somewhere else—at least I wouldn't do that.
18:47
yes i'm sure that one's binding if you accept. and yeah i probably wont bind to berkeley but i want to still write a public interest essay for them
18:54
I wish eggan jackfrost wasp bunny where here to input some knowledge since they are PI focused. texas seems right- it just really depends on the margin of utility u see in each school, if u are deadest on HLS- likely dont do anything binding to other schools?
18:56
agree i just feel like it's such a pipe dream for HLS to be dream school
PerpetualCheerfulBeaver
18:58
yall think there will be A's sent tomorrow? or that it will be after thanksgiving
19:02
I think they will send some this week. :) I read that they did send them out during the holidays last year. I specifically read Thanksgiving week was busy.
babycat
19:02
@ChowieBean: yeah you don’t need to apply ED to berk to be eligible for the scholarship, binding just means that if you accept the scholarship you have to go there
babycat
19:02
it doesn’t mean if they offer you the scholarship you have to go there, only if you accept it
19:04
wow! thank you babycat!
babycat
19:06
yeah of course. like llama said, RTK has the same policy but it’s only binding to the extent that if you accept their offer you’re committing to attend that school
LSD+ is ad-free, with DMs, discounts, case briefs & more.