Agency Agreement Good Faith

What does a duty of good faith mean in the context of an explicit obligation to act in good faith? As a general rule, the duty of good faith is a negative duty to refrain from acts of bad faith instead of imposing a positive duty of good faith action, although in one case the English courts imposed a positive duty to disclose all essential facts. It is important that explicit obligations in good faith do not infringe contractual rights (e.g.B. termination rights) or force a party to waive its business interests. “Good faith” has generally been defined as honesty in a person`s behavior during the agreement. The obligation to provide a good faith service also exists in contracts that expressly allow one of the parties to terminate the contract for any reason. “Fair treatment” generally requires more than honesty. .

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