Dictionary
good faith
if a transaction is carried out in good faith then it is carried out with no intention to defraud or act dishonestly
He accused the unions of failing to act in good faith and of rejecting every proposal proffered.
something done with good intentions, without knowledge of fraudulent circumstances or reason to ask any particular questions (eg about the legitimacy of a deal)
After all, Your Honor, my client paid for the DVD player in good faith.
Phrase Bank
- A letter of intent may state that the parties have an obligation to negotiate in good faith.
Additional Notes
- When a thief sells a stolen car to a good faith purchaser, the original owner's rights normally have precedence over those of the good faith purchaser.
- An insurance company that refuses to pay a claim that is clearly covered by the insurance policy may be in breach of the covenant of good faith and fair dealing.
- bad faith and mala fides: antonyms of good faith.
- bona fides: the Latin equivalent for good faith. Bona fides is used often, even outside the legal context, but mal fides is rare, even in legal documents.
- bona fide (adjective) genuine: The tax authorities found that he was a bona fide resident of Spain.