Difference between revisions of "Good faith"
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(New page: Good faith is a legal concept that means: *in commercial transactions, observance of reasonable standards of fair dealing *in issues concerning duty, an honest intention to fulfill one's ...) |
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*in issues concerning duty, an honest intention to fulfill one's obligations | *in issues concerning duty, an honest intention to fulfill one's obligations | ||
*in personal dealings, a lack of intent to seek unfair advantage or to defraud | *in personal dealings, a lack of intent to seek unfair advantage or to defraud | ||
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| + | Good faith is hard to define. But it is a precise legal term of art, and typically a [[question of fact]] for juries. | ||
[[category:law]] | [[category:law]] | ||
Revision as of 01:39, June 20, 2007
Good faith is a legal concept that means:
- in commercial transactions, observance of reasonable standards of fair dealing
- in issues concerning duty, an honest intention to fulfill one's obligations
- in personal dealings, a lack of intent to seek unfair advantage or to defraud
Good faith is hard to define. But it is a precise legal term of art, and typically a question of fact for juries.