Obligation of "good faith"

Every contract or duty within this subchapter imposes an obligation of good faith in its performance or enforcement. "Good faith" means honesty in fact in the conduct or transaction concerned and the observance of reasonable commercial standards of fair dealing. Acts 1979, No. 482, § 6; A.S.A. 1947, § 14-236. Every contract or duty within this subchapter imposes an obligation of good faith in its performance or enforcement. "Good faith" means honesty in fact in the conduct or transaction concerned and the observance of reasonable commercial standards of fair dealing. Acts 1979, No. 482, § 6; A.S.A. 1947, § 14-236.