In the context of warranty claims under an acquisition agreement, the specified minimum amount below which no individual claim for breach of warranty can be made. For further information, see Practice note, Warranties and indemnities: acquisitions: Limitation of seller's liability under warranties and indemnities.

In a wider legal context, something regarded by a court or a party as too small or immaterial to be meaningful or taken into consideration. The term is taken from a longer Latin phrase which translates into "the law does not concern itself with trifles."