material fact definition

  • noun:
    • a well known fact necessary to make an instance or a defense, and/or lack of which negates an incident or protection.
    • an undeniable fact that may alter your decision to purchase a residential property or change the terms and price a buyer is ready to accept.
    • an undeniable fact that may alter an insurer's decision to consent to offer insurance coverage to people or affect the conditions and terms or perhaps the rate of advanced on a policy.
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