- material fact
- material fact maˌterialˈfact noun1. [countable] INSURANCE any fact which, by law, you must tell an insurance company when you buy insurance from them2. [countable] FINANCE any fact which, by law, a company must tell people when a document giving information about a new share issue is produced:
• The company failed to disclose (= make known ) material facts about its operations and financial position.3. [countable, uncountable] LAW any information provided by a witness during a court that could affect the decision of the court:
• It is a crime to falsify or hide a material fact.
* * *material fact UK US noun [C]► INSURANCE information that you must give to your insurance company when you make a claim : »
How do you know what an underwriter may regard as a material fact?► FINANCE important information, especially financial information, that a company must legally give to people who have invested or are going to invest in it: »
The company omitted to state a material fact when asking for investment.► LAW important information that may affect a decision in a court of law: »
Material facts are those that are relevant to the court's decision.
Financial and business terms. 2012.