material fact

material fact
material fact maˌterialˈfact noun
1. [countable] INSURANCE any fact which, by law, you must tell an insurance company when you buy insurance from them
2. [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.

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Look at other dictionaries:

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  • material — ma·te·ri·al 1 /mə tir ē əl/ adj 1: of, relating to, or consisting of physical matter 2: being of real importance or consequence 3: being an essential component the material terms of the contract 4: being relevant to a subject under considerati …   Law dictionary

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