LOUISIANA NOTARY COMPREHENSIVE
QUESTIONS AND ANSWERS SET A+
✔✔ownership in indivision - ✔✔ownership of the same thing by two or more persons
which is not divided or segregated into separate portions
✔✔pact de non alienando - ✔✔clause contained in the mortgage or other encumbrance
agreement whereby the obligor agrees not to sell, engage, alienate, or mortgage the
same property to other persons to the prejudice of the mortgage
✔✔paraph - ✔✔a notation on a document to mark it for identification with another act
✔✔partial release of mortgage - ✔✔a partial cancellation of a security interest such as a
mortgage; an act executed by the owner/holder of a promissory note which is secured
by a mortgage or other security instrument, secured by a certain property in which the
holder of the note releases cancels and erases the obligation on a specified portion of
the property which secures the debt
✔✔partition by licitation - ✔✔the division of property by sheriff's sale where the funds
are then distributed among the owners by the share of ownership in the original property
✔✔partition in kind - ✔✔a legal division of real or personal property in equal portion
✔✔partnership - ✔✔a legal entity created by contract between two or more persons to
enter into a joint venture
✔✔partnership in commendam - ✔✔a partnership characterized by the presence of an
ordinary partner and one or more partners who do not participate in the partnership
except through capital contributions and enjoy limited liability
, ✔✔party wall - ✔✔a common wall; a wall constructed on a property boundary as a
common support to buildings on both sides, which are under different ownerships. also
referred to as a partition wall
✔✔patrimony - ✔✔the whole of ones estate
✔✔pawn - ✔✔the pledge of immovable property
✔✔payee - ✔✔a person to whom a promissory note or bill of exchange is payable
✔✔perjury - ✔✔false swearing in court
✔✔personal servitude - ✔✔charge on a thing for the benefit of a person. There are
three; usufruct, right of use, habitation
✔✔pledge - ✔✔a security interest in property where the creditor takes possession of the
property and returns it upon payment of debt
✔✔power of attorney - ✔✔Transaction in which a person (mandator) confers authority
on another person (mandatory or agent) to act for the principal
✔✔preemptive right - ✔✔a shareholder's right to purchase newly issued stock before
shares are offered to another perons in an amount proportionate to the shareholders
current holding in order to prevent dilution of the shareholder's ownership interest
✔✔principal - ✔✔"1. a sum of money
2. the person granting authority under a mandate"
✔✔private act - ✔✔an act between the parties that may or may not be witnessed but is
signed by both parties
✔✔private act duly acknowledged - ✔✔private act acknowledged before a notary
✔✔privilege - ✔✔a security interest in property that arises by operation of law and which
is not often recorded
✔✔proces verbal - ✔✔a detailed, authenticated written report of a proceeding; official
record of oral proceedings""
✔✔procuration - ✔✔a unilateral juridical act by which a person confers authority on
another person to represent him in legal relations. not a mandate
✔✔promissory note - ✔✔writing evidencing the existence of a debt in which the obligor
promises to pay a stated amount on a date certain
QUESTIONS AND ANSWERS SET A+
✔✔ownership in indivision - ✔✔ownership of the same thing by two or more persons
which is not divided or segregated into separate portions
✔✔pact de non alienando - ✔✔clause contained in the mortgage or other encumbrance
agreement whereby the obligor agrees not to sell, engage, alienate, or mortgage the
same property to other persons to the prejudice of the mortgage
✔✔paraph - ✔✔a notation on a document to mark it for identification with another act
✔✔partial release of mortgage - ✔✔a partial cancellation of a security interest such as a
mortgage; an act executed by the owner/holder of a promissory note which is secured
by a mortgage or other security instrument, secured by a certain property in which the
holder of the note releases cancels and erases the obligation on a specified portion of
the property which secures the debt
✔✔partition by licitation - ✔✔the division of property by sheriff's sale where the funds
are then distributed among the owners by the share of ownership in the original property
✔✔partition in kind - ✔✔a legal division of real or personal property in equal portion
✔✔partnership - ✔✔a legal entity created by contract between two or more persons to
enter into a joint venture
✔✔partnership in commendam - ✔✔a partnership characterized by the presence of an
ordinary partner and one or more partners who do not participate in the partnership
except through capital contributions and enjoy limited liability
, ✔✔party wall - ✔✔a common wall; a wall constructed on a property boundary as a
common support to buildings on both sides, which are under different ownerships. also
referred to as a partition wall
✔✔patrimony - ✔✔the whole of ones estate
✔✔pawn - ✔✔the pledge of immovable property
✔✔payee - ✔✔a person to whom a promissory note or bill of exchange is payable
✔✔perjury - ✔✔false swearing in court
✔✔personal servitude - ✔✔charge on a thing for the benefit of a person. There are
three; usufruct, right of use, habitation
✔✔pledge - ✔✔a security interest in property where the creditor takes possession of the
property and returns it upon payment of debt
✔✔power of attorney - ✔✔Transaction in which a person (mandator) confers authority
on another person (mandatory or agent) to act for the principal
✔✔preemptive right - ✔✔a shareholder's right to purchase newly issued stock before
shares are offered to another perons in an amount proportionate to the shareholders
current holding in order to prevent dilution of the shareholder's ownership interest
✔✔principal - ✔✔"1. a sum of money
2. the person granting authority under a mandate"
✔✔private act - ✔✔an act between the parties that may or may not be witnessed but is
signed by both parties
✔✔private act duly acknowledged - ✔✔private act acknowledged before a notary
✔✔privilege - ✔✔a security interest in property that arises by operation of law and which
is not often recorded
✔✔proces verbal - ✔✔a detailed, authenticated written report of a proceeding; official
record of oral proceedings""
✔✔procuration - ✔✔a unilateral juridical act by which a person confers authority on
another person to represent him in legal relations. not a mandate
✔✔promissory note - ✔✔writing evidencing the existence of a debt in which the obligor
promises to pay a stated amount on a date certain
