Basic Concepts, Good Faith
{"Image DocumentName": "Basic Concepts, Good Faith", "Image ImageDescription": "\u00a71-201(b)(20). \u2018Good faith\u2019 means honesty in fact and the observance of reasonable commercial standards of fair dealing. \u00a7 Every contract or duty within this Act imposes an obligation of good faith in its performance or enforcement. Comment to This section does not support an independent cause of action for failure to perform or enforce in good faith. \u25a0 Rather, this section means that a failure to perform or enforce, in good faith, a specific duty or obligation under the contract, constitutes a breach of that contract or makes unavailable, under the particular circumstances, a remedial right or power. \u25a0 This distinction makes it clear that the doctrine of good faith merely directs a court towards interpreting contracts within the commercial context in which they are created, performed, and enforced, and does not create a separate duty of fairness.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}