Waiver Of Notice
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Definition of '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. |
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Investopedia explains 'Waiver Of Notice'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. |
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