Buy custom Lender Liability and the Duty of Good Faith
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Social Issues
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| Number of pages / Number of words: |
27 / 7298 |
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Additionally, the Seventh Circuit in 1990 flatly rejected imposing the duty of good faith when calling a demand note.
Despite such far-reaching conclusions, courts have yet to articulate any specific criteria to distinguish good faith performance from bad faith performance. Consequently, the issue of a party's good faith performance under its contract is generally one of fact...
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Consequently, the issue of a party's good faith performance under its contract is generally one of fact. In analyzing such facts, however, many courts are using the good faith performance obligation incorrectly. Instead of enforcing contract terms according to the expectations and intent of the contracting parties, many courts are deciding for themselves what they believe the parties ought to have done in "good faith," regardless of the terms of the contracts...
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General points of the essay
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