Good Faith Obligations: An Implied Term or an Express Clause?

Introduction The concept of Good Faith acts as a cornerstone principle of Contract Law. It aims to ensure that parties engaging in contract should play their role with honesty, fairness and in a justified manner. The concept of good faith differs in different laws. Somewhere it is in explicit form, on the other hand it acts as an implied term. Definition and Meaning Good faith refers to the duty to act honestly, fairly and lawfully implying the absence of an intention to deceive, defraud or...