In Law
In contract law, the implied covenant of good faith 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.
Read more about this topic: Good Faith
Famous quotes containing the word law:
“I am now quite lame, from scuffling, all my fingers stiffened by playing ball. Pretty business for a law student. Yes, pretty enough; why not? Good exercise and great sport.”
—Rutherford Birchard Hayes (1822–1893)
“We accept and welcome ... as conditions to which we must accommodate ourselves, great inequality of environment; the concentration of business, industrial and commercial, in the hands of a few; and the law of competition between these, as being not only beneficial, but essential for the future progress of the race.”
—Andrew Carnegie (1835–1919)