Step 1: Binary search condition.
In a sorted list (ascending), binary search compares the target key with the middle element.
Step 2: Case analysis.
- If \texttt{mid\_element == key}, the key is found at the middle index.
- If \texttt{mid\_element>key}, the key, if present, must be in the left subarray.
- If \texttt{mid\_element<key}, the key, if present, must be in the right subarray.
Step 3: Apply condition.
Given that the middle element is less than the key, the key must reside in the second half of the list.
Final Answer: \[\boxed{\text{The key is in the second half}}\]