Jury Instruction - Good Faith Reliance Upon Advice of Counsel
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FAQ
A term that generally describes honest dealing. Depending on the exact setting, good faith may require an honest belief or purpose, faithful performance of duties, observance of fair dealing standards, or an absence of fraudulent intent.
Good faith has generally been defined as honesty in a person's conduct during the agreement. The obligation to perform in good faith exists even in contracts that expressly allow either party to terminate the contract for any reason. Fair dealing usually requires more than just honesty.
It means acting as much within the spirit of an agreement and in accordance with a justified expectation rather than the letter of the contract, and being faithful to an agreed common purpose.
Honesty; a sincere intention to deal fairly with others. Good faith is an abstract and comprehensive term that encompasses a sincere belief or motive without any malice or the desire to defraud others.The term good faith is used in many areas of the law but has special significance in Commercial Law.
A term that generally describes honest dealing. Depending on the exact setting, good faith may require an honest belief or purpose, faithful performance of duties, observance of fair dealing standards, or an absence of fraudulent intent.
The Principle of Good Faith in Contract Law It is a settled principle of contract law that a contracting party must perform her contractual duties in good faith. The meaning of the duty of good faith is complex.
A good faith clause refers to the manner in which parties in an agreement act with each other. It is often for an employer and employee relationship, where good faith would cause both parties to act respectfully to one another.
In contract law, the implied covenant of good faith and fair dealing is a general presumption that the parties to a contract will deal with each other honestly, fairly, and in good faith, so as to not destroy the right of the other party or parties to receive the benefits of the contract.
GOOD FAITH: A Good Faith argument or discussion is one in which both parties agree on the terms on which they engage, are honest and respectful of the other person's dignity, follow generally-accepted norms of social interaction, and genuinely want to hear what the other person thinks and has to say.