Comment 58310

By Andrea (registered) | Posted January 27, 2011 at 12:16:14

Sure, if you are strictly using it a reference to labour law, but it's commonly used in business dealings and as a corporate legal term as well. To illustrate I will provide the definition referencing negotiating in good faith:

Good faith is an abstract and comprehensive term that encompasses a sincere belief or motive without any malice or the desire to defraud others. It derives from the translation of the Latin term bona fide, and courts use the two terms interchangeably.

Thus 'bargaining in bad faith':

bad faith 1) n. intentional dishonest act by not fulfilling legal or contractual obligations, misleading another, entering into an agreement without the intention or means to fulfill it, or violating basic standards of honesty in dealing with others. Most states recognize what is called "implied covenant of good faith and fair dealing" which is breached by acts of bad faith, for which a lawsuit may be brought (filed) for the breach (just as one might sue for breach of contract). The question of bad faith may be raised as a defense to a suit on a contract. 2) adj. when there is bad faith then a transaction is called a "bad faith" contract or "bad faith" offer. (See: good faith, fraud, clean hands doctrine)

http://legal-dictionary.thefreedictionar...

http://legal-dictionary.thefreedictionar...

http://legal-dictionary.thefreedictionar...

Today's lesson is concluded.

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