good faith

noun

: honesty or lawfulness of purpose

Examples of good faith in a Sentence

You have no right to question my good faith.

Recent Examples on the Web

Michigan law, Wagner said, requires the credit union to do a good faith investigation. —Susan Tompor, USA TODAY, 31 Oct. 2024

The complaint seeks an undetermined amount of monetary damages for six claims, including fraud, defamation, and breach of covenant of good faith and fair dealing. —Monica Mercuri, Forbes, 4 Nov. 2024

We will be liberated from our reliance on something as fragile as the cultivation of good faith. —Gideon Lewis-Kraus, The New Yorker, 21 Oct. 2024

New York, like most states in the US (except Louisiana) holds that even a good faith purchaser cannot acquire a valid title from a thief. —Patricia Failing, ARTnews.com, 21 Oct. 2024

Word History

First Known Use

14th century, in the meaning defined above

Kids Definition

good faith

noun

: honesty or lawfulness of purpose

bargained in good faith

Legal Definition

good faith

noun

: honesty, fairness, and lawfulness of purpose : absence of any intent to defraud, act maliciously, or take unfair advantage

filed the suit in good faith

negotiating in good faith

see also good faith exception, good faith purchaser compare bad faith

Note: The meaning of good faith, though always based on honesty, may vary depending on the specific context in which it is used. A person is said to buy in good faith when he or she holds an honest belief in his or her right or title to the property and has no knowledge or reason to know of any defect in the title. In section 1-201 of the Uniform Commercial Code good faith is defined generally as “honesty in fact and the observance of reasonable commercial standards of fair dealing.” Where recent U.C.C. amendments have not been adopted, this definition is found in Article 3 on negotiable instruments (and applies to Article 4 on bank deposits and collections and Article 4A on funds transfers), while Article 2 on sales defines it as “honesty in fact and the observance of reasonable commercial standards of dealing in the trade.” Article 5 (letters of credit), as amended, defines it as “honesty in fact in the conduct or transaction concerned.” The U.C.C. imposes an obligation of good faith on the performance of every contract or duty under its purview. The law also generally requires good faith of fiduciaries and agents acting on behalf of their principals. There is also a requirement under the National Labor Relations Act that employers and unions bargain in good faith.

Etymology

translation of Latin bona fides