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Materiality

The significance of facts (or details) to a particular matter. In the law of evidence, an item of evidence is...

Material Fact

A fact that is relevant to a particular case or situation. In other words, a material fact is a detail...

Merit

In legal context, merit (in singular form) or merits (in plural form) may have multiple meanings. Merit means a valid...

Consensus Ad Idem

Latin for towards the same (literally, meeting of the minds. Also referred to as mutual agreement, mutual assent or simply...

Ad Idem

Latin for towards the same (literally, meeting of the minds. Also referred to as mutual agreement, mutual assent or consensus...

Unliquidated Demand

A demand (claim) for an amount of money that is not fixed or established at the time of claim. It...

Liquidated Demand

A demand (claim) for a fixed amount of money, such as an established debt of $1,000. A liquidated demand is...

Adjustment

Adjustment has many meanings in multiple contexts. In relation to insurance, it is the determination of the amount due for...

Pure Economic Loss

A type of economic loss/ financial loss that only reflects financial damage sustained as a result of the negligence of...

Financial Loss

A type of loss that results from physical damage to property/ assets, which is recoverable under normal situations. The claimant,...