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In human interactions, good faith (Latin: bona fidēs) is a sincere intention to be fair, open, and honest, regardless of the outcome of the interaction.
The concept of good faith was established in the insurance industry following the events of Carter v Boehm (1766), and is enshrined in the Insurance Contracts Act 1984 (ICA). [26] The act stipulates, in Section 13, obligations of all parties within a contract to act with utmost good faith.
Good Faith defined and explained with examples. Good Faith is behaving with honest intent, not taking advantage of someone else.
The meaning of GOOD FAITH is honesty or lawfulness of purpose. How to use good faith in a sentence.
Good faith is a broad term that’s used to encompass honest dealing. Depending on the exact setting, good faith may require an honest belief or purpose, faithful performance of duties, observance of fair dealing standards, or an absence of fraudulent intent.
GOOD-FAITH definition: 1. done in an honest and sincere way: 2. used to describe money that is paid to show that you are…. Learn more.
What does it mean to act in "good faith"? Acting in "good faith" means that a person or organization is making a genuine effort to fulfill their obligations, follow the rules, and deal with others in a fair and ethical way.
GOOD-FAITH meaning: 1. done in an honest and sincere way: 2. used to describe money that is paid to show that you are…. Learn more.
Good faith definition: accordance with standards of honesty, trust, sincerity, etc. (usually preceded by in). See examples of GOOD FAITH used in a sentence.
good faith - A sincere intention to be fair, honest and lawful in one's actions or dealings, without any aim to deceive or cheat.