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The Business has been carried on in the ordinary course and all financial statements and other information provided for to Purchaser are true, accurate, and correct in all material respects.

What is the meaning of "in all material respects"?

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  • From the full OED - matter Definition III 6a: Of serious or substantial import; significant, important, of consequence. A "metaphoric" extension from material = matter = physical substance. Note also the same kind of extension to a verb usage - This question matters to me (it's important to me). – FumbleFingers Feb 25 at 13:31
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In this case material is used as an adjective and it means

In all aspects that are relevant and essential (in this case, related to the business).

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