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:
“The law is a great thing,—because men are poor and weak, and bad. And it is great, because where it exists in its strength, no tyrant can be above it. But between you and me there should be no mention of law as the guide of conduct. Speak to me of honour, and of duty, and of nobility; and tell me what they require of you.”
—Anthony Trollope (1815–1882)
“Nobody dast blame this man.... For a salesman, there is no rock bottom to the life. He don’t put a bolt to a nut, he don’t tell you the law or give you medicine. He’s a man way out there in the blue, riding on a smile and a shoeshine. And when they start not smiling back—that’s an earthquake. And then you get yourself a couple of spots on your hat, and you’re finished. Nobody dast blame this man. A salesman is got to dream, boy. It comes with the territory.”
—Arthur Miller (b. 1915)