A 'reasonable person' is a legal fiction I'm pretty sure I've never met.

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Legal Definitions - Materiality

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The law is a jealous mistress, and requires a long and constant courtship.

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Definition of Materiality

Definition: Materiality refers to the importance or relevance of something in a particular matter. It is the extent to which something can affect a decision or outcome.

  • When a company is preparing its financial statements, it must consider the materiality of each item. For example, a small error in a $10 expense is not material, but a $10,000 error is.
  • In a court case, evidence that is material to the case is admissible, while evidence that is not material is not allowed.
  • When conducting a risk assessment, it is important to identify the material risks that could have a significant impact on the organization.

The examples illustrate how materiality is used in different contexts. In accounting, materiality is used to determine what information should be included in financial statements. In law, materiality is used to determine what evidence is relevant to a case. In risk management, materiality is used to identify the most important risks that need to be addressed.

Success in law school is 10% intelligence and 90% persistence.

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Simple Definition

Materiality: Materiality refers to how important something is and how relevant it is to a particular situation. It helps us understand what information is significant and what is not.

The law is a jealous mistress, and requires a long and constant courtship.

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Where you see wrong or inequality or injustice, speak out, because this is your country. This is your democracy. Make it. Protect it. Pass it on.

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