- good faith
-
good faith n [translation of Latin bona fides]: honesty, fairness, and lawfulness of purpose: absence of any intent to defraud, act maliciously, or take unfair advantagefiled the suit in good faith◇ The meaning of good faith, though always based on honesty, may vary depending on the specific context in which it is used. A person is said to buy in good faith when he or she holds an honest belief in his or her right or title to the property and has no knowledge or reason to know of any defect in the title. In section 1-201 of the Uniform Commercial Code good faith is defined generally as “honesty in fact in the conduct or transaction concerned.” Article 2 of the U.C.C. says “good faith in the case of a merchant means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.” Similarly, Article 3 on negotiable instruments defines good faith as “honesty in fact and the observance of reasonable commercial standards of fair dealing,” a definition which also applies to the provisions of Article 4 on bank deposits and collections and Article 4A on funds transfers. The U.C.C. imposes an obligation of good faith on the performance of every contract or duty under its purview. The law also generally requires good faith of fiduciaries and agents acting on behalf of their principals. There is also a requirement under the National Labor Relations Act that employers and unions bargain in good faith.
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- good faith
-
n.Sincerity, honesty, lack of deceit; a sincere intention to do what is promised.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
- good faith
-
a requirement in the law, importing an absence of bad faith more than anything, that can be treated as equivalent to 'honestly and decently'. It is imbedded in civilian legal systems but is of lesser significance in the Anglo-American system.
Collins dictionary of law. W. J. Stewart. 2001.
- good faith
-
Honest intent to fulfill a promise to act or to act without taking an unfair advantage over another person. Absence of intent to defraud someone.Category: Business, LLCs & CorporationsCategory: Small Claims Court & Lawsuits
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- good faith
-
n. A party's state of mind in acting or carrying out an action or transaction, evincing honesty, fairness, full communication of any hidden issues or information, and an absence of intent to harm other individuals or parties to the transaction.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
- good faith
-
Honesty; a sincere intention to deal fairly with others.
Dictionary from West's Encyclopedia of American Law. 2005.
- good faith
-
Honesty; a sincere intention to deal fairly with others.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
- good faith
-
n.honest intent to act without taking an unfair advantage over another person or to fulfill a promise to act, even when some legal technicality is not fulfilled. The term is applied to all kinds of transactions.
Law dictionary. EdwART. 2013.
