Good Faith Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Good Faith, written in plain English, along with examples of how it is used.
What is Good Faith?
(n) Good Faith is the sincere effort and purpose of doing an action or activity with an aim or objective to achieve good results or outcomes. Eg. Intervening the fight between two persons, not knowing they are mocking a fight for a film shooting leading to spoiling of the shooting
History and Meaning of Good Faith
Good Faith is a legal principle that refers to the sincere intention or belief of an individual while performing an action or transaction. It has been an essential concept of many legal systems, including civil law and common law jurisdictions. The principle of Good Faith originated from Roman law, where it was considered a fundamental principle. The principle was later adopted in European civil codes in the 19th century and has since become entrenched in multiple legal systems around the world.
Examples of Good Faith
- A buyer purchasing a product from the manufacturer with the belief that the product doesn't possess any defects.
- An employee reporting to work on time and giving their best efforts to complete the assigned tasks.
- A party signing a contract with another party, believing that the terms and conditions disclosed in the contract are true and complete.
Legal Terms Similar to Good Faith
- Bad Faith: The opposite of Good Faith, which refers to the behavior of an individual who deliberately deceives or attempts to deceive another party.
- Due Diligence: It refers to the level of care, caution, and attention an individual exercises while performing an action or a transaction.
- Reasonableness: A legal term that refers to whether a person's conduct or belief is sufficiently rational, sensible, and cautious.