material fact
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A material fact is a
fact A fact is a datum about one or more aspects of a circumstance, which, if accepted as true and proven true, allows a logical conclusion to be reached on a true–false evaluation. Standard reference works are often used to check facts. Scient ...
that a
reasonable person In law, a reasonable person, reasonable man, or the man on the Clapham omnibus, is a hypothetical person of legal fiction crafted by the courts and communicated through case law and jury instructions. Strictly according to the fiction, it is ...
would recognize as relevant to a decision to be made, as distinguished from an insignificant,
trivia Trivia is information and data that are considered to be of little value. It can be contrasted with general knowledge and common sense. Latin Etymology The ancient Romans used the word ''triviae'' to describe where one road split or forked ...
l, or unimportant detail. In other words, it is a fact, the suppression of which would reasonably result in a different decision. Falsification of a material fact that would cause a party to a
contract A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to tran ...
to refrain from entering into the contract may be grounds for
rescission Rescission is the noun form of the verb "to rescind." It may refer to: * Rescission (contract law) * Rescission bill, a procedure to rescind previously appropriated funding in the United States * A synonym for repeal in parliamentary procedure * ...
. For example,
misrepresentation In common law jurisdictions, a misrepresentation is a false or misleading '' R v Kylsant'' 931/ref> statement of fact made during negotiations by one party to another, the statement then inducing that other party to enter into a contract. The m ...
of a material fact on an application for
insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
may give an
insurance company Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
grounds to rescind an
insurance policy In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as ...
.


See also

*
Materiality (law) Materiality is the significance of facts to the matter at hand.Black's Law Dictionary, 7th ed. In the law of evidence An item of evidence is said to be material if it has some logical connection to a fact of consequence to the outcome of a case. ...
*
Material witness In American criminal law, a material witness is a person with information alleged to be material concerning a criminal proceeding. The authority to detain material witnesses dates to the First Judiciary Act of 1789, but the Bail Reform Act of ...


References

{{Authority control Legal terminology