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A formal declaration whereby a person expresses a personal objection or disapproval of an act. A written statement, made by a notary, at the request of a holder of a bill or a note that describes the bill or note and declares that on a certain day the instrument was presented for, and refused, payment.
A protest is generally made to save some right that would be waived unless a negative opinion was expressly voiced. Taxes are often paid under protest, an action by which a taxpayer reserves the right to recover the amount paid if he has sufficient evidence to prevail.
The document states the reasons for the refusal and provides for the notary to protest against all parties to the instrument declaring that they can be held liable for any loss or damages. A notice of protest is given by the holder of the instrument to the drawer or endorser of the instrument.
v. 1) to complain in some public way about any act already done or about to be done, such as adoption of a regulation by a county board, sending troops overseas, or use of the death penalty. 2) to dispute the amount of property taxes, the assessed evaluation of property for tax purposes, or an import duty. 3) n. a written demand for payment of the amount owed on a promissory note which has not been paid when due or a check which has been dishonored (not paid by the bank).
protesta procedure under which evidence of the dishonour of a BILL OF EXCHANGE is provided.
PROTEST, mar. law. A writing, attested by a justice of the peace or a consul, drawn by the master of a vessel, stating the severity of a voyage by which a ship has suffered, and showing it was not owing to the neglect or misconduct of the master. Vide Marsh. Ins. 715, 716. See 1 Wash. C. R. 145; Id. 238; Id. 408, n.; 1 Pet. C. R. 119; 1 Dall. 6; Id. 10; Id. 317; 2 Dall. 195; 3 Watts & Serg. 144; 3 Binn. 228, n.; 1 Yeates, 261.
PROTEST, legislation. A declaration made by one or more members of a legislative body that they do not agree with some act or resolution of the body; it is usual to add the reasons which the protestants have for such a dissent.
PROTEST, contracts. A notarial act, made for want of payment of a promissory
note, or for want of acceptance or payment of a bill of exchange, by a
notary public, in which it is declared that all parties to such instruments
will be held responsible to the holder for all damages, exchanges,
2. There are two kinds of protest, namely, protest for non-acceptance, and protest for non-payment. When a protest is made and notice of the non- payment or non-acceptance given to the parties in proper time, they will be held responsible. 3 Kent, Com. 63; Chit. on Bills, 278; 3 Pardes. n. 418 to 441; Merl. Repert. h.t.; COID. Dig. Merchant, F 8, 9, 10; Bac. Ab. Merchant, &c. M 7.
3. There is also a species of protest, common in England, which is called protest for better security. It may be made when a merchant who has accepted a bill becomes insolvent, or is publicly reported to have failed in his credit, or absents himself from change, before the bill he has accepted becomes due, or when the holder has any just reason to suppose it will not be paid; and on demand the acceptor refuses to give it. Notice of such protest must, as in other cases, be sent by the first post. 1 Ld. Raym. 745; Mar. 27.
4. In making the protest, three things are to be done: the noting; demanding acceptance or payment or, as above, better security and drawing up the protest. 1. The noting, (q.v.) is unknown to the law as distinguished from the protest. 2. The demand, (q.v.) which must be made by a person having authority to receive the money. 3. The drawing up of the protest, which is a mere matter of form. Vide Acceptance; Bills of Exchange.