Affirmation Of Fact

Business, Legal & Accounting Glossary

Definition: Affirmation Of Fact


Quick Summary of Affirmation Of Fact


An affirmation of fact is a statement of fact or promise made as part of a bargain.



What is the dictionary definition of Affirmation Of Fact?

Dictionary Definition


A statement that confirms the details of a contract or transaction is based in fact and is not just an opinion being expressed.


Full Definition of Affirmation Of Fact


An affirmation of fact is a statement of fact or promise made as part of a bargain. It is a positive assertion of a fact or a statement concerning the subject matter of a transaction, which might otherwise be only an expression of opinion, which is affirmed as an existing fact material to the transaction and reasonably induces the other party to rely upon it as a fact. It usually arises in a claim of a breach of warranty. An affirmation of fact is presumed to be a part of the bargain, and any fact that would remove such affirmation out of the agreement requires clear affirmative proof.

Basically, an affirmation of fact, confirms that a statement is based on facts rather than solely being based on an opinion.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/affirmation-of-fact/
Modern Language Association (MLA):
Affirmation Of Fact. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. November 29, 2020 https://payrollheaven.com/define/affirmation-of-fact/.
Chicago Manual of Style (CMS):
Affirmation Of Fact. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/affirmation-of-fact/ (accessed: November 29, 2020).
American Psychological Association (APA):
Affirmation Of Fact. PayrollHeaven.com. Retrieved November 29, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/affirmation-of-fact/

Definition Sources


Definitions for Affirmation Of Fact are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 12th December, 2019 | 22 Views.