Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

Material

Read a random definition: seise

A quick definition of Material:

Material: Important information that can significantly impact a situation. It can be used in different areas such as law, contracts, and securities fraud. For example, in a court case, a material fact is a crucial piece of information that must be decided by a judge or jury. In contract law, a material breach means that one party failed to meet their obligations significantly enough to warrant a remedy. In securities fraud, any misrepresentation must be significant enough to give rise to liability.

A more thorough explanation:

Definition: Material means important information that is significant enough to determine an issue. It can be used in various contexts:

  • Civil Procedure: A general issue of material fact refers to an actual, plausible issue of fact that must be decided by a jury or judge. This issue is relevant and consequential, and it precludes summary judgment.
  • Evidence Law: Relevant evidence must be material, meaning it influences the determination of the action and is probative, meaning it has a tendency to make a fact more or less probable. For example, issues affecting a witness’ credibility are generally always relevant and material because if their testimony cannot be believed, then the development of facts will be significantly altered.
  • Contract Law: Material refers to an event that significantly impacts the parties’ expectations under the contract. For example, a material breach of contract refers to a court finding that a party failed to satisfy their obligations significantly enough to where the aggrieved party is entitled to a remedy.
  • Securities Fraud: Any misrepresentation must be material to give rise to liability. The test for whether a company’s decision not to disclose an event was material is a balance of the probability that the event would have occurred and the magnitude of the event. Qualitative considerations include whether the fact related to a significant aspect of the company’s business, whether it masked a change in earnings or trends, whether it impacted managerial compensation, or whether there was a market reaction to eventual disclosure.

For example, in a contract between two parties, if one party fails to fulfill their obligations significantly enough to where the other party is entitled to a remedy, it is considered a material breach of contract. In securities fraud, if a company fails to disclose an event that would have significantly impacted their business, it is considered a material misrepresentation.

Master Trust | Material Witness

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.