Social:Material fact
From HandWiki
Short description: A fact, the suppression of which would reasonably result in a different decision
A material fact is a fact that a reasonable person would recognize as relevant to a decision to be made, as distinguished from an insignificant, trivial, or unimportant detail. In other words, it is a fact, the suppression of which would reasonably result in a different decision.[1][2]
Falsification of a material fact that would cause a party to a contract to refrain from entering into the contract may be grounds for rescission. For example, misrepresentation of a material fact on an application for insurance may give an insurance company grounds to rescind an insurance policy.[3]
See also
- Materiality (law)
- Material witness
References
- ↑ "Material". Cornell Law School. https://www.law.cornell.edu/wex/material. Retrieved 23 May 2017.
- ↑ "Materiality". Cornell Law School. https://www.law.cornell.edu/wex/materiality.
- ↑ "The Equitable Remedy of Rescission: A Tool to Defeat Fraud". 2015-04-21. https://www.lexisnexis.com/legalnewsroom/insurance/b/insurancelaw/archive/2015/04/21/the-equitable-remedy-of-rescission-a-tool-to-defeat-fraud.aspx. Retrieved 2017-05-23.
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