good faith

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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.
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good faith


The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
(11) They argued that, therefore, the appraisal was not made using "generally accepted appraisal practices" and, thereby, the City's actions did not constitute "good faith negotiation" under that term's statutory definition in Missouri Revised Statute Section 523.256 (Good Faith Negotiation statute).
The COD board announced Thursday evening that it signed a formal mediation agreement with the faculty association "in pursuit of a new contract." The statement said the college's administration has participated in "good faith negotiations" with the faculty association.
The companies have also committed to engage in good faith negotiations regarding the leasing of some or all of DISH's 600 MHz spectrum to T-Mobile.
"We urge both sides to come together in good faith negotiations to reach an agreement that best serves the goal of free, fair and sustainable trade."
He called on Yemeni parties to engage in good faith negotiations, without preconditions, with U.N.
The teaming agreement said CGI "will receive" a 45 percent workshare of the awarded total contract value, but the "commitment may not be exactly 45 percent each year." It required the parties to enter into "good faith negotiations" for a subcontract after prime contract award.
Oriolo Oyj (HEL:OKDBV), a distributor of pharmaceutical products, announced on Friday, that having completed actions to stabilise the performance of the logistic operations in Finland during Q2 2018, Oriola and its provider for the new logistics and warehouse IT system have in good faith negotiations, mutually agreed to end the current contract by 31 December 2018 by entering into a settlement agreement.
The US refuses to fulfill its Article VI obligations to begin good faith negotiations to eliminate its nuclear arsenals.
Advocates of contemporary negotiation methods in the country are encouraging the practice of 'Good Faith Negotiations' where parties negotiate in good faith by considering the interests of the other party and assist (in problem-solving fashion) the other party to jointly resolve the issues in dispute.