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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 their shares or invest their money. [4] In this regard, it is similar to the accounting term of the same name.
Prejudice is a legal term with different meanings, which depend on whether it is used in criminal, civil, or common law. In legal context, prejudice differs from the more common use of the word and so the term has specific technical meanings. Two of the most common applications of the word are as part of the terms with prejudice and without ...
A material fact is a fact that a reasonable person would recognize as relevant to a decision to be made, as distinguished from an insignificant, trivial, or unimportant detail. In other words, it is a fact, the suppression of which would reasonably result in a different decision.
The test is that set out for repudiatory breach, above. The concept of fundamental breach as a free standing legal concept no longer has any legal force [26] but is now simply another possible term of a contract that needs to be construed like any other term of a contract. A fundamental breach is usually read as a reference to a repudiatory ...
Jurisprudence, also known as theory of law or philosophy of law, is the examination in a general perspective of what law is and what it ought to be.It investigates issues such as the definition of law; legal validity; legal norms and values; as well as the relationship between law and other fields of study, including economics, ethics, history, sociology, and political philosophy.
Information is said to be material if omitting it or misstating it could influence decisions that users make on the basis of an entity's financial statements. [5] Put differently, "materiality is an entity-specific aspect of relevance, based on the size, or magnitude, or both," of the items to which financial information relates.
Substantive law is the set of laws that governs how members of a society are to behave. [1] It is contrasted with procedural law , which is the set of procedures for making, administering, and enforcing substantive law. [ 1 ]
The plain meaning rule, also known as the literal rule, is one of three rules of statutory construction traditionally applied by English courts. [1] The other two are the "mischief rule" and the "golden rule". The plain meaning rule dictates that statutes are to be interpreted using the ordinary meaning of the language of the statute.