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Material Fact
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. Falsification of a material fact that would cause a party to a contract to refrain from entering into the contract may be grounds for rescission. For example, misrepresentation of a material fact on an application for insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ... may give an insurance company grounds to rescind an insurance policy. See also * Materiality (law) * Material witness References {{Authority control Legal terminology ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fact
A fact is a datum about one or more aspects of a circumstance, which, if accepted as true and proven true, allows a logical conclusion to be reached on a true–false evaluation. Standard reference works are often used to check facts. Scientific facts are verified by repeatable careful observation or measurement by experiments or other means. For example, "This sentence contains words." accurately describes a linguistic fact, and "The sun is a star" accurately describes an astronomical fact. Further, "Abraham Lincoln was the 16th President of the United States" and "Abraham Lincoln was assassinated" both accurately describe historical facts. Generally speaking, facts are independent of belief and of knowledge and opinion. Facts are different from theories, values, and objects. Etymology and usage The word ''fact'' derives from the Latin ''factum''. It was first used in English with the same meaning: "a thing done or performed"a meaning now obsolete."Fact" (1a). ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reasonable Person
In law, a reasonable person, reasonable man, or the man on the Clapham omnibus, is a hypothetical person of legal fiction crafted by the courts and communicated through case law and jury instructions. Strictly according to the fiction, it is misconceived for a party to seek evidence from actual people to establish how the reasonable man would have acted or what he would have foreseen. This person's character and care conduct under any ''common set of facts,'' is decided through reasoning of good practice or policy—or "learned" permitting there is a compelling consensus of public opinion—by high courts. In some practices, for circumstances arising from an ''uncommon set of facts,'' this person is seen to represent a composite of a relevant community's judgement as to how a typical member of said community should behave in situations that might pose a threat of harm (through action or inaction) to the public. However, cases resulting in judgment notwithstanding verdict ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trivia
Trivia is information and data that are considered to be of little value. It can be contrasted with general knowledge and common sense. Latin Etymology The ancient Romans used the word ''triviae'' to describe where one road split or forked into two roads. Triviae was formed from ''tri'' (three) and ''viae'' (roads) – literally meaning "three roads", and in transferred use "a public place" and hence the meaning "commonplace." The Latin adjective ''triviālis'' in Classical Latin besides its literal meaning could have the meaning "appropriate to the street corner, commonplace, vulgar." In late Latin, it could also simply mean "triple." The pertaining adjective ''trivial'' was adopted in Early Modern English, while the noun ''trivium'' only appears in learned usage from the 19th century, in reference to the ''Artes Liberales'' and the plural ''trivia'' in the sense of "trivialities, trifles" only in the 20th century. Meaning In medieval Latin, the ''trivia'' (singular ''tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Falsified Evidence
False evidence, fabricated evidence, forged evidence, fake evidence or tainted evidence is information created or obtained illegally in order to sway the verdict in a court case. Falsified evidence could be created by either side in a case (including the police/ prosecution in a criminal case), or by someone sympathetic to either side. Misleading by suppressing evidence can also be considered a form of false evidence ( by omission); however, in some cases, suppressed evidence is excluded because it cannot be proved the accused was aware of the items found or of their location. The analysis of evidence ( forensic evidence) may also be forged if the person doing the forensic work finds it easier to fabricate evidence and test results than to perform the actual work involved. Parallel construction is a form of false evidence in which the evidence is truthful but its origins are untruthfully described, at times in order to avoid evidence being excluded as inadmissible due to unl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rescission (contract Law)
In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence. Rescission is the unwinding of a transaction. This is done to bring the parties, as far as possible, back to the position in which they were before they entered into a contract (the '' status quo ante''). Taxonomy Rescission is used throughout the law in a number of different senses. The failure to draw these crucial distinctions is productive of serious confusion. Although Judicature legislation has been enacted throughout the common law world, and jurisdictions vary in their recognition of a distinct body of law known as equity, reference to the jurisdictional origins is still important for the purposes of exposition. * ''"Rescission" in the sense of termination''. Rescission in this sense is not the focus of this article. Where a contr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Misrepresentation
In common law jurisdictions, a misrepresentation is a false False or falsehood may refer to: * False (logic), the negation of truth in classical logic *Lie or falsehood, a type of deception in the form of an untruthful statement * false (Unix), a Unix command * ''False'' (album), a 1992 album by Gorefest * ... or misleading '' R v Kylsant'' 931/ref> statement of fact made during negotiations by one party to another, the statement then inducing that other party to enter into a contract. The misled party may normally rescind the contract, and sometimes may be awarded damages as well (or instead of rescission). The law of misrepresentation is an amalgam of contract and tort; and its sources are common law, equity and statute. In England and Wales, the common law was amended by the Misrepresentation Act 1967. The general principle of misrepresentation has been adopted by the United States and other former British colonies, e.g. India. Representation and contract terms A "represen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Fraud
Insurance fraud is any act committed to defraud an insurance process. It occurs when a claimant attempts to obtain some benefit or advantage they are not entitled to, or when an insurer knowingly denies some benefit that is due. According to the United States Federal Bureau of Investigation, the most common schemes include premium diversion, fee churning, asset diversion, and workers compensation fraud. Perpetrators in the schemes can be insurance company employees or claimants. False insurance claims are insurance claims filed with the fraudulent intention towards an insurance provider. Insurance fraud has existed since the beginning of insurance as a commercial enterprise.Manes, Alfred. "Insurance Crimes." p. 34. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Policy
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language. Insurance contracts are designed to meet specific needs and thus have many features not found in many other types of contracts. Since insurance policies are standard forms, they feature boilerplate language which is similar across a wide variety of different types of insurance policies. Available through HeinOnline. The insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer.Wollner KS. (1999). How to Draft and Interpret Insurance Policies. Casualty Risk Publishing LLC. In some cases, however, supplementary writings such as letters sent after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Materiality (law)
Materiality is the significance of facts to the matter at hand.Black's Law Dictionary, 7th ed. 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 two characteristics that make a given item of evidence relevant. This largely depends on the elements of the cause of action the plaintiff seeks to prove, or that the prosecutor must prove in a criminal case 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 their shares or invest their money. In this regard, it is similar to the accounting term of the same name. Ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
