In legal contexts, “material” typically refers to information, evidence, or facts that are relevant and significant to the matter at hand. Materiality is a crucial concept in various areas of law, including contract law, securities law, and civil litigation. Material facts are those that could influence the outcome of a legal dispute or transaction, and they must be disclosed or considered by parties involved. Failure to disclose material information may result in legal consequences, such as rescission of a contract, civil liability, or regulatory sanctions. In court proceedings, evidence is deemed material if it has a direct bearing on the issues in dispute and is deemed admissible for consideration by the judge or jury. Materiality is assessed based on the importance and relevance of the information to the legal rights, obligations, or interests of the parties involved.
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This glossary post was last updated: 29th March, 2024.
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