Duty Of Good Faith

TigercubGW Leave a Comment

A duty imposed in many continental European jurisdictions. The duty extends to all phases of commercial relationships both in the pre-contractual and contractual stages. The duty of good faith exists when negotiations commence. Entering into heads of terms may help to crystallise the duty and make it easier to enforce, for example, a letter that sets out detailed terms agreed in principle would be evidence of the closeness of the relationship and of what each party is expecting from the other.

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