Review:
Good Faith Principle In Contract Law
overall review score: 4.5
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score is between 0 and 5
The good faith principle in contract law refers to the requirement that parties to a contract must act honestly and fairly towards each other in their dealings.
Key Features
- Honesty
- Fairness
- Mutual trust and confidence
Pros
- Promotes trust between parties
- Prevents opportunistic behavior
- Helps in resolving disputes amicably
Cons
- Subjective interpretation
- Can be difficult to prove in court