Difference between revisions of "Good faith"
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*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 | ||
| − | Good faith is hard to define. But it is a precise legal term of art, and typically a | + | Good faith is hard to define. But it is a precise legal term of art, and in litigation typically becomes a question of fact for juries. |
[[category:law]] | [[category:law]] | ||
Revision as of 19:41, May 7, 2012
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 in litigation typically becomes a question of fact for juries.