Comparative commercial law – the law of good faith

The principle of “good faith” in agreements

When two parties enter into a contract,  there is an implicit moral understanding that underlies the agreement which is referred to as “good faith”, which may be defined as the intention not to defraud or cheat the other party but to carry out the terms of the contract in a gentlemanly fashion although every little detail may not be spelt out in the contract.
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