Material fact

Material fact

A material fact is a fact that would be to a reasonable person germane to the decision to be made as distinguished from an insignificant, trivial or unimportant detail.[1] In other words, it is a fact which expression (concealment) would reasonably result in a different decision.

Falsification of a material fact in such a manner that, had the insurance company known the truth, it would not have insured the risk. Misrepresentation of a material fact gives an insurance company grounds to rescind a contract.[2]

If material facts about the investment property lying in a floodplain had been communicated to the buyer, he would not have bought.[2]

References

  1. ^ "Legal Definitions of Material Fact, Materiality". Lectlaw.com. http://www.lectlaw.com/def2/m021.htm. Retrieved 2010-06-10. 
  2. ^ a b "Material Fact: Definition from". Answers.com. http://www.answers.com/topic/material-misrepresentation. Retrieved 2010-06-10. 

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