inquiry notice

inquiry notice

That legal notice presumed to exist when a person is in command of sufficient facts as would cause a reasonable person to make further inquiries.

Example: If one buys real property and knows that it is occupied by someone other than the seller, then the buyer has an obligation to make inquiries to find out the character of the rights of the occupant, whether the occupant has a long-term lease, no lease at all, or is claiming title to the property as his or her own. But, having failed to make any inquiry, the purchaser cannot make a claim against the seller if the occupant claims rights in the property.

References in periodicals archive ?
1" put Williams on inquiry notice of the FBAR requirement.
Defendants Manzke and Suzanne Hammond, a colleague of Manzke's at Tremont and a Managing Partner and partial owner of Maxam Capital, were on inquiry notice of Madoff's scheme while at Tremont, and they carried their knowledge of Madoff's suspicious activities with them to Maxam Capital.
In fact, the court rejected inquiry notice as having any weight on when the limitations period begins to run.
controversial plan The boarded-up garage which occupies the site and the inquiry notice at the property
Alec Wildenstein was present at Sandown yesterday though, according to the inquiry notice, the Sandown stewards interviewed E Wildenstein - his brother Ecurie, perhaps - who was listed as Risk Seeker's owner
a California appellate court signaled its intention to return to the discovery rule as announced in Jolly: that to start the limitations period, plaintiffs must be aware not only of their injury and its factual (that is, physical) cause, but also of sufficient facts to put them on inquiry notice of a negligent cause.
The court stated that a plaintiff must be aware of her injury, its factual cause, and sufficient facts to put her on inquiry notice of a negligent cause.
Alternatively, courts might apply both the constructive knowledge and inquiry notice standards at the same time, dismissing cases that fit either standard.
This discussion presents us with five competing "discovery" doctrines, each indicating a different time to begin the one-year prong of the Lampf limitations period: actual knowledge, constructive knowledge alone, actual inquiry notice alone, constructive knowledge and actual inquiry notice, and constructive inquiry notice.
37) An inquiry notice standard looks to the moment at which the plaintiff actually receives information that "would have prompted a diligent investor to make further inquiry"(38)--and is not concerned with whether or not such an inquiry in fact took place.
The federal judge stated that he had dismissed WWE's federal RICO claims on multiple grounds, including: (1) that WWE's claims were barred by the statute of limitations because WWE was on inquiry notice of these claims no later than the summer of 1998, and (2) that WWE has not established any cognizable RICO injury.
Nowadays, self assessment is seen as a less flexible, more formal procedure, with a tendency for the Inland Revenue to issue inquiry notices as a first step.