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LSDefine

Simple English definitions for legal terms

initial protest

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A quick definition of initial protest:

An initial protest is a formal statement or action expressing dissent or disapproval. It can be used to preserve a claim or right, or to dispute the legality or validity of a debt while agreeing to make payment. In the case of a negotiable instrument, such as a check, an initial protest is a notary public's written statement that the instrument was neither paid nor accepted. It can also be used in international law to object to conduct or a claim that violates international law.

A more thorough explanation:

An initial protest is a formal statement or action expressing dissent or disapproval. It can be used to preserve a claim or right, or to dispute the legality or validity of a debt while agreeing to make payment. Here are some examples:

  1. A notary public's written statement that a negotiable instrument was neither paid nor accepted. This is also called noting protest and is done to charge the memory of the notary.
  2. A formal statement disputing a debt's legality or validity but agreeing to make payment while reserving the right to recover the amount at a later time. The disputed debt is described as under protest.
  3. A taxpayer's statement to the collecting officer that payment is being made unwillingly because the taxpayer believes the tax to be invalid.
  4. A formal communication from one subject of international law to another objecting to conduct or a claim by the latter as violating international law.
  5. A proceeding in the U.S. Patent and Trademark Office to determine patentability of an invention after a third party has challenged it in a petition. This is called a protest and the protestant has no right to participate in the proceeding beyond filing the petition and supporting documents.

These examples illustrate how an initial protest can be used in different contexts to express dissent or disapproval, preserve a claim or right, or dispute the legality or validity of something.

initial margin requirement | initial public offering

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