A Material Fact Is a Fact That Is Important and Central

question 71

True/False

A material fact is a fact that is important and central to the subject matter of a contract.

---

Definitions:

Diffusion of Innovation

A theory that describes how, why, and at what rate new ideas and technology spread through cultures, from inception to widespread adoption.

Product Line

A group of related products marketed under a single brand name that serves a particular market segment or fulfills a specific customer need.

Product Class

A category that groups products based on their function, consumer perceptions, or attributes, such as electronics or household goods.

Product Form

Pertains to variations of a product within the product class.