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material fact |
Also found in: Medical | 0.04 sec. |
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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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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