Bona Fide

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Bona Fide

In law, belief that a statement or act is made or done honestly and with no ill intent, even if ill effect results. Liability for ill effect may be lessened or eliminated if the statement or act causing it was bona fide. The term is Latin for "in good faith," and the concept is sometimes referred to in this way.
References in periodicals archive ?
Additionally, that blatant ambiguity requiring insureds to provide "other information needed" is one which insurers can exploit to avoid or delay any obligation on their part to engage in good faith negotiations.
We are calling upon the city to cease playing games and to come to the table ready to negotiate in good faith for the last remaining negotiation sessions,'' their statement read.
Once this threshold requirement is met, the taxpayer should be permitted to demonstrate, based on its specific facts and circumstances, that it acted reasonably and in good faith.
Thus, the claim settlement process cannot and should not be viewed as the responsibility of just the insurer, such that only one side should be charged with conducting itself in good faith during settlement.
Fidelity warned stockholders not to be fooled by the illusion created by US Facilities that it is considering Fidelity's proposal in good faith.
Thus, absent a material change in facts and circumstances (such as a change in product lines or business), a taxpayer using a pricing methodology previously accepted by the IRS should be presumed to have acted in good faith and with reasonable cause.
The defendants responded that both parties had been untimely in their discovery responses, and that the defendants produced the documents in good faith in order to ensure that all potentially relevant documents were produced.
This article explores whether an insurance carrier may also be responsible for a punitive damage award against its insured, based on the insured's conduct, as part of a compensatory damage claim in a subsequent action for bad faith against the carrier and, if so, the issues a carrier may encounter while discharging its obligation to its insured to act in good faith in the defense of an underlying claim involving punitive damages.
It exposes insurers who do not act in good faith to the risks of extracontractual liability and damages in excess of policy limits.
6661(c) allows the IRS to waive the penalty if the taxpayer shows both that there was reasonable cause for the understatement and that he acted in good faith.
Fidelity's Foley asked Kadonada to delay the annual meeting for one month to demonstrate that US Facilities is proceeding in good faith.