Honesty; a sincere intention to deal fairly with others.
Good faith is an abstract and comprehensive term that encompasses a sincere belief or motive without any malice or the desire to defraud others. It derives from the translation of the Latin term bona fide, and courts use the two terms interchangeably.
The term good faith is used in many areas of the law but has special significance in COMMERCIAL LAW. A good faith purchaser for value is protected by the
Source: West's Encyclopedia of American Law, ©2005 Gale Cengage. All Rights Reserved. Full copyright.
(The entire page is 787 words.)
Want to read the whole thing?
Subscribe to eNotes for access to this content as well as thousands of study guides and critical materials. SUBSCRIBE
