Search results
Results from the WOW.Com Content Network
In contract law, the implied covenant of good faith and fair dealing is a general presumption that the parties to a contract will deal with each other honestly, fairly, and in good faith, so as to not destroy the right of the other party or parties to receive the benefits of the contract. It is implied in a number of contract types in order to ...
In Canada, the Supreme Court of Canada has recognised that good faith contractual performance is a general organising principle of the common law.This duty applies to all contracts, requiring parties to act honestly in the performance of their obligations, and therefore would operate to determine whether activation of a termination for convenience clause had been done in good faith.
Some scholars viewed DOMA as a violation of the Full Faith and Credit Clause. [20] [21] Other legal scholars disagreed. [22] [23] Ultimately, the U.S. Supreme Court in United States v. Windsor struck down DOMA as a violation of the Constitution's Equal Protection Clause and did not address the Full Faith and Credit Clause in its decision. [24]
The other aspects of fiduciary duty are a director's duty of loyalty and (possibly) duty of good faith. Put simply, a director owes a duty to exercise good business judgment and to use ordinary care and prudence in the operation of the business. They must discharge their actions in good faith and in the best interest of the corporation ...
Uberrima fides is strictly limited in English law to the formation of the insurance contract. [5] During the mid-20th century, American courts expanded it much farther into a post-formation implied covenant of good faith and fair dealing. Violation of that implied covenant came to be seen as a tort, now known as insurance bad faith. [5]
AWB Simpson, 'The Horwitz Thesis and the History of Contracts' (1979) 46(3) The University of Chicago Law Review 533; Books. G Gilmore, The Death of Contract (1974) PS Atiyah, The Rise and Fall of Freedom of Contract (Oxford 1979) AWB Simpson, A History of the Common Law of Contract: the Rise of the Action of Assumpsit (1987)
Such clauses refers to the standardized clauses in contracts, and they are to be found towards the end of the agreement. [1] Including boilerplate clauses is the process by which parties to the contract may better define their relationship and the will to provide certainty if terms in the contract are ever disputed.
The following outline is provided as an overview of and topical guide to commercial law: Commercial law – body of law that governs business and commercial transactions. It is often considered to be a branch of civil law and deals with issues of both private law and public law. It is also called business law.