Roots of Good Faith (Bona Fides) Shaping the Modern Contract Law

Description

This Skill Bit talks about how good faith, a fundamental principle in both civil and common law, guides parties’ conduct in legal contexts, ensuring honesty, fairness, and sincerity. In contract law, it influences negotiation, formation, performance, and enforcement stages, fostering ethical and equitable transactions. While civil law explicitly codifies good faith, common law increasingly acknowledges its importance. Internationally, it governs state conduct in treaties. Upholding honesty and fairness, good faith maintains trust, facilitating cooperation and market functioning across legal systems.

Duration approx. 5 Min.

Tier: proficiency