The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
001
:
GENERAL PROVISIONS
(Cite as: 11 V.S.A. § 3202)
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§ 3202. Knowledge and notice
(a) A person knows a fact if the person has actual knowledge of it.
(b) A person has notice of a fact if the person:
(1) knows of it;
(2) has received a notification of it; or
(3) has reason to know it exists from all of the facts known to the person at the time
in question.
(c) A person notifies or gives a notification to another by taking steps reasonably required
to inform the other person in ordinary course, whether or not the other person learns
of it.
(d) A person receives a notification when the notification:
(1) comes to the person’s attention; or
(2) is duly delivered at the person’s place of business or at any other place held out
by the person as a place for receiving communications.
(e) Except as otherwise provided in subsection (f) of this section, a person other than
an individual knows, has notice, or receives a notification of a fact for purposes
of a particular transaction when the individual conducting the transaction knows,
has notice, or receives a notification of the fact, or in any event when the fact
would have been brought to the individual’s attention if the person had exercised
reasonable diligence. The person exercises reasonable diligence if it maintains reasonable
routines for communicating significant information to the individual conducting the
transaction and there is reasonable compliance with the routines. Reasonable diligence
does not require an individual acting for the person to communicate information unless
the communication is part of the individual’s regular duties or the individual has
reason to know of the transaction and that the transaction would be materially affected
by the information.
(f) A partner’s knowledge, notice, or receipt of a notification of a fact relating to
the partnership is effective immediately as knowledge by, notice to, or receipt of
a notification by the partnership, except in the case of a fraud on the partnership
committed by or with the consent of that partner. (Added 1997, No. 149 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)