- Materiality (law)
In the law of evidence
An item of evidence is said to be material if it has some logical connection to a fact of consequence to the outcome of a case. Materiality, along with probative value, is one of the two characteristics which makes a given item of evidence relevant. This is largely dependent upon the elements of the cause of action the plaintiff seeks to prove, or that the prosecutor must prove in a criminal case in order to secure a conviction. Which issues must be factually proven are therefore a product of the underlying substantive law.
In corporate and securities law
Within the context of corporate and securities law in the United States, a fact is defined as material if there is a substantial likelihood that a reasonable shareholder would consider it important in deciding how to vote. In this regard, it is similar to the accounting term of the same name.
Materiality is particularly important in the context of securities law, because under the Securities Exchange Act of 1934, a company can be held civilly or criminally liable for false, misleading, or omitted statements of fact in proxy statements and other documents, if the fact in question is found by the court to have been material.
In contract law
In the law of contracts, a material term in a contract is a term or provision of a contract which concerns significant issues, such as the subject matter, price, quantity, the type of work to be done, and terms of payment or performance.
Wikimedia Foundation. 2010.
Look at other dictionaries:
materiality — I (consequence) noun caliber, distinction, eminence, gravity, greatness, import, importance, magnitude, materialness, matter, memorability, momentousness, notability, notableness, priority, prominence, purport, rank, relevance, salience,… … Law dictionary
Materiality — can refer to distinct concepts in different professions and areas of study: Materiality (auditing) Materiality (architecture) Materiality (law) Materiality (digital text) This disambiguation page lists articles associated with the same title. If… … Wikipedia
materiality — The importance of an event or information in influencing a company s stock price. companies must report any material events within one month by filing SEC form 8 K. Bloomberg Financial Dictionary * * * materiality UK US /məˌtɪəriˈæləti/ noun [U]… … Financial and business terms
List of law topics (F-M) — NOTOC Law [From Old English lagu something laid down or fixed ; legal comes from Latin legalis , from lex law , statute ( [http://www.etymonline.com/index.php?search=law searchmode=none Law] , Online Etymology Dictionary; [http://www.m… … Wikipedia
South African contract law — is essentially a modernised version of the Roman Dutch law of contract,  which is itself rooted in Roman law. In the broadest definition, a contract is an agreement entered into by two or more parties with the serious intention of creating a… … Wikipedia
Mistake (contract law) — In contract law, a mistake is an erroneous belief, at contracting, that certain facts are true. It can be argued as a defence, and if raised successfully can lead to the agreement in question being found void ab initio or voidable, or… … Wikipedia
matter — mat·ter n 1: a subject of consideration, disagreement, or litigation: as a: a legal case, dispute, or issue a matter within the court s jurisdiction often used in titles of legal proceedings matter of Doe see also in re b … Law dictionary
bring down — index cause, demean (make lower), demote, depress, derogate, disgrace, dispatch (put to death), overthrow … Law dictionary
relevance — rel·e·vance / re lə vəns/ n: the quality or state of being relevant: relation to the matter at hand ruled on the relevance of the testimony relevance in discovery has been broadly interpreted Merriam Webster’s Dictionary of Law. Merriam Webster.… … Law dictionary
condition — con·di·tion 1 n 1: an uncertain future act or event whose occurrence or nonoccurrence determines the rights or obligations of a party under a legal instrument and esp. a contract; also: a clause in the instrument describing the act or event and… … Law dictionary