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material fact

   Also found in: Medical 0.04 sec.
material fact

Any fact that is relevant to a reasonable person making a decision. For example,

• Real estate agents must disclose material facts known to them about the condition of property.

• Some facts, although they may be material, cannot be disclosed unless the seller gives his or her permission, such as the fact that the seller or a prior owner or occupant of the property was HIV-positive or had AIDS.

• Legally actionable fraud is a misrepresentation of a material fact. If there was a misrepre- sentation, but the fact was not material, there is no liability for fraud.



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