Idaho State Statutes - Idaho Attorney Directory

(a) Subject to subsection (f) of this
section, a person has "notice" of a fact if the person:
(1) Has actual knowledge of it;
(2) Has received a notice or notification of it; or
(3) From all the facts and circumstances known to the person at the time
in question, has reason to know that it exists.
(b) "Knowledge" means actual knowledge. "Knows" has a corresponding
meaning.
(c) "Discover," "learn," or words of similar import refer to knowledge
rather than to reason to know.
(d) A person "notifies" or "gives" a notice or notification to another
person by taking such steps as may be reasonably required to inform the other
person in ordinary course, whether or not the other person actually comes to
know of it.
(e) Subject to subsection (f) of this section, a person "receives" a
notice or notification when:
(1) It comes to that person's attention; or
(2) It is duly delivered in a form reasonable under the circumstances at
the place of business through which the contract was made or at another
location held out by that person as the place for receipt of such
communications.
(f) Notice, knowledge, or a notice or notification received by an
organization is effective for a particular transaction from the time it is
brought to the attention of the individual conducting that transaction and, in
any event, from the time it would have been brought to the individual's
attention if the organization had exercised due diligence. An organization
exercises due diligence if it maintains reasonable routines for communicating
significant information to the person conducting the transaction and there is
reasonable compliance with the routines. Due diligence does not require an
individual acting for the organization 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.

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