Good Faith
Satisfaction Clauses
"I'll buy it if I like it" subjective but must at least be in good faith i.e. look at the portrait before claiming you do not like it
You have the right to assume that a party won't engage in conduct that deprives you the ability to make money
TRUE
Implied Covenant of Good Faith is a mandatory term of the K.
TRUE *does not have to be bargained for
There is no cause of action for bad faith.
TRUE *you would argue the "K required this and it was not done in good faith"
Contract law does not require parties to be ______, _______, or ____________.
fair, kind or reasonable *only requires parties avoid taking advantage of opportunities
Implied Covenant of Good Faith
the implied duty of good faith in performance and enforcement of a contract is considered a term added to the parties' K both by common law and UCC *only governs performance/enforcement; not negotiation/formation of K