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An agency's compliance with the bona fide need rule is measured at the time the agency incurs an obligation and depends on the purpose of the transaction and the nature of the obligation being entered into. 61 Comp. Gen. 184, 186 (1981) (bona fide need determination depends upon the facts and circumstances of the particular case).
For example, the Commonwealth of Massachusetts will assess punitive damages under Chapter 93A which governs unfair and deceptive business practices, and a party found to have violated the covenant of good faith and fair dealing under 93A may be liable for punitive damages, legal fees and treble damages. [2]
Specific performance is an equitable remedy in the law of contract, in which a court issues an order requiring a party to perform a specific act, such as to complete performance of a contract. [1]
In human interactions, good faith (Latin: bona fidēs) is a sincere intention to be fair, open, and honest, regardless of the outcome of the interaction.Some Latin phrases have lost their literal meaning over centuries, but that is not the case with bona fides, which is still widely used and interchangeable with its generally accepted modern-day English translation of good faith. [1]
Employers and employees have a bona fide duty to each other once a contract of employment has begun; but a job applicant owes no duty of disclosure in a job interview. [24] [25] [26] A contract uberrimae fidei is a contract of 'utmost good faith', and include contracts of insurance, business partnerships, and family agreements. [27]
It goes back to Tinashe's manager Solitro's risk-reward assessment. A well-executed concert is an investment that promises to yield something every business owner wants: consumer loyalty.
Price on eBay: $8,500 Porcelain dolls don’t have to be more than 2 feet tall to be worth a lot of money. This little lady stands only 15 1/2 inches tall, but her ornate details and impressive ...
A simple example of not at arm's length is the sale of real property from parents to children. The parents might wish to sell the property to their children at a price below market value, but such a transaction might later be classified by a court as a gift rather than a bona fide sale, which could have tax and other legal consequences. To ...