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Service cuts and fare hikes should be in the offing to show Springfield that transit leaders have a measure of good faith.—Charles Selle, Chicago Tribune, 26 Mar. 2025 Customers are held captive, or sparingly released to show good faith for the authorities.—Proma Khosla, IndieWire, 26 Mar. 2025 Vice President Vance warned in an interview with The Wall Street Journal that the U.S. could send troops to Ukraine and hit Russia with further sanctions if Putin doesn’t negotiate a peace deal in good faith.—Alexis Simendinger, The Hill, 14 Feb. 2025 The building’s owner filed a counterclaim against Fannie Mae, accusing it of breach of contract, and breach of good faith and fair dealing.—Robert A. Cronkleton, Kansas City Star, 19 Mar. 2025 See All Example Sentences for good 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.
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