Prima Facie

Prima facie is a Latin phrase that means "on its face" or "at first sight." It is used in law to describe a case that is supported by the evidence presented at trial, but which may be subject to further investigation or argument. In financial terms, prima facie evidence is evidence that is sufficient to support a conclusion, but which may be rebutted by other evidence.

For example, if a company is accused of fraud, the evidence presented at trial may be sufficient to support a finding of guilt. However, the company may be able to rebut this evidence by presenting other evidence that shows that it did not commit fraud.

Prima facie evidence is important in financial transactions because it can help to protect both parties involved. For example, if a buyer is considering purchasing a house, they may want to see prima facie evidence that the house is worth the asking price. This evidence could include appraisals, inspection reports, and other documents that support the value of the home.

Similarly, a seller may want to see prima facie evidence that the buyer is able to afford the home. This evidence could include proof of income, bank statements, and other financial documents.

Prima facie evidence can be a valuable tool in financial transactions, but it is important to remember that it is not always conclusive. Other evidence may be presented that could change the outcome of a case or transaction.