What does material mean mean?

1 : the elements, substance, or parts of which something is made or can be made We purchased bricks and other building material. 2 : equipment needed for doing something writing materials. material. adjective. ma·​te·​ri·​al | \ mə-ˈtir-ē-əl \

What does material mean in a legal document?

important information
Material means important information, generally significant enough to determine an issue. It can be used in the following contexts: In the context of 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.

What does materially mean in contract law?

In contract law, a “material” breach of contract is a breach (a failure to perform the contract) that strikes so deeply at the heart of the contract that it renders the agreement “irreparably broken” and defeats the purpose of making the contract in the first place.

What is a material change in a contract?

A change in the meaning or language of a legal document, such as a contract, deed, lease, or Commercial Paper, that is made by one party to the document without the consent of the other after it has been signed or completed.

What does materials mean in business?

As its root word, material, suggests, materiality is commonly defined as any attribute or factor that is relevant and substantial to the overall performance, results and viability of a business.

What does material difference mean?

Material Difference . ‘ means serious and significant variation of the original; variation that could negatively affect other parties or have an adverse effect on the area; Sample 1. Sample 2.

What is a material decision?

Material Decision means any decision, action, authorization, direction, approval, determination, waiver, amendment or consent that is not an Administrative Decision, Supermajority Decision , Fundamental Decision or EHS Decision.

What does material mean in court?

relevant and significant
material. adj. relevant and significant. In a lawsuit, “material evidence” is distinguished from totally irrelevant or of such minor importance that the court will either ignore it, rule it immaterial if objected to, or not allow lengthy testimony upon such a matter.

What does material mean in business?

What does material change mean in legal terms?

Material change means an event, occurrence, change in conditions or circumstances, or other change that results in, or could reasonably be foreseen to have, a material effect on: (1) The resolvability of the covered company; (2) The covered company’s resolution strategy; or.

What does material mean in finance?

Definition: Materiality is a GAAP (generally accepted accounting principles) principle. Material events or information are any events or facts that would affect the judgment of an informed investor. Material events should be publicly disclosed along with the corresponding financial statements.