A more thorough explanation:

A commercial-law notice is a legal notification required by law or agreement, or imparted by operation of law as a result of some fact. It is a definite legal cognizance, actual or constructive, of an existing right or title. A person has notice of a fact or condition if that person:

1. has actual knowledge of it;
2. has received information about it;
3. has reason to know about it;
4. knows about a related fact; or
5. is considered as having been able to ascertain it by checking an official filing or recording.

For example, if a tenant must give the landlord written notice 30 days before vacating the premises, the tenant has a legal obligation to provide notice to the landlord. If the tenant fails to provide notice, the landlord may take legal action against the tenant.

Under the UCC, notice of a fact arising either as a result of actual knowledge or notification of the fact, or as a result of circumstances under which a person would have reason to know of the fact. This means that if a person has reason to know about a fact, they are considered to have notice of that fact. For example, if a person sees a "no trespassing" sign on a property, they have reason to know that they are not allowed to enter the property.

Other types of notices include:

• Actual notice: Notice given directly to, or received personally by, a party.
• Constructive notice: Notice arising by presumption of law from the existence of facts and circumstances that a party had a duty to take notice of.
• Implied notice: Notice that is inferred from facts that a person had a means of knowing and that is thus imputed to that person.
• Judicial notice: Notice taken by a court of a fact that is not subject to reasonable dispute because it is generally known or can be accurately and readily determined from sources that are available to the public.

For example, if a person purchases a property with a recorded deed, they have constructive notice of the contents of the deed. This means that they are legally considered to have notice of the rights and restrictions associated with the property.

In intellectual property law, a formal sign attached to an item that embodies or reproduces an intellectual-property right is also considered a notice. For example, a patent holder may place the word "patent" and the item's patent number on the item to provide notice of the patent. A copyright notice may take several forms, such as the symbol with the letter C in a circle or the word "Copyright," followed by the copyright owner's name and the year that the work was first published.