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A serious and significant breach of contract or failure to perform an important and essential contractual obligation whereby the purpose, value and benefit of the contract is frustrated or lost. This excuses the non-breaching party from further performance and the non-breaching party has grounds to sue for breach of contract. … [Read more...] about MATERIAL BREACH

Terms that are essential to a contract. Arranging, ranking, or disposing in order; particularly, in the case of a group or series of conflicting claims or interests, arranging them in such an order of sequence, or so directing the manner of their satisfaction, as shall secure justice to all persons concerned and the largest possible measure of satisfaction. … [Read more...] about MATERIAL CONTRACT TERMS

An officer of the court of chancery. 2. The origin of these officers is thus accounted for. The chancellor from the first found it necessary to have a number of clerks, were it for no other purpose, than to perform the mechanical part of the business, the writing; these soon rose to the number of twelve. In process of time this number being found insufficient, these clerks … [Read more...] about MASTER IN CHANCERY

Relevant evidence that could have bearing on whether a face in issue is more likely to be true or not to be true. … [Read more...] about MATERIAL EVIDENCE

mar. law. The commander or first officer of a ship; a captain. 2. His rights and duties have been considered under the article Captain. … [Read more...] about MASTER OF A SHIP