48-1-2. Interpretation of knowledge and notice.
(1) Within the meaning of this chapter, a person is deemed to have knowledge of a fact
not only when he has actual knowledge thereof, but also when he has knowledge of such other
facts that to act in disregard of them shows bad faith.
(2) A person has notice of a fact within the meaning of this chapter when the person who
claims the benefit of the notice:
(a) states the fact to such person; or
(b) delivers through the mail, or by other means of communication, a written statement of
the fact to such person, or to a proper person at his place of business or residence.
No Change Since 1953
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Last revised: Wednesday, July 23, 2008