Modus Ponens is a rule of inference in propositional logic. It is used to break up a conditional statement. Modus Ponens says that if you have a statement in the form of "if x then y" and you have x, then you can validly conclude that y.

If P, then Q
P
Therefore, Q

If Socrates is a man, then he is mortal.
Socrates is a man.
Therefore Socrates is mortal.

The full name of this function is modus ponendo ponens, being Latin for "the way that affirms by affirming". It is often abbreviated to MP. This is a simple rule, but easily confused with Affirming the consequent.

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