good faith

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Related to Good-faith: good-faith estimate, Good-Faith Deposit

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.

good faith

Honesty.

References in periodicals archive ?
4942 and 4945 regulations, a private foundation will ordinarily be considered to have made a good-faith determination about a foreign organization if the determination is based on an affidavit of the grantee or on an opinion of counsel of either the grantor or the grantee.
The latter should reflect a commitment to good-faith claim practices and to ethical behavior.
24, 2002-- but after May 6, 1997--qualifies for the reduced exclusion if the taxpayer has made a reasonable, good-faith effort to comply with Sec.
Those that opt to claim that a portion of the winning bid represents a contribution to the organization are advised to obtain a good-faith (third-party) fair market value for each item.
In state court, mediators ordered to maintain good-faith negotiations at the mediation are required to decline the assignment on the ground it violates the mediator's obligations to maintain confidentiality.
Because the reasonable cause and good-faith determinations both involve a facts-and-circumstances analysis, it is perhaps most instructive to review those examples in an effort to see the terms' application in specific contexts.
These new claim objectives should create a bright-line, good-faith checklist, not only for the disability leader, but for the rest of the carriers as well.
If the taxpayer cannot make the full payment, then he or she must make good-faith arrangements to pay within a reasonable time after the disclosure.
3) relaxation of good-faith requirements for sellers;
How does he or she know when they have made a good-faith effort to do what is "readily achievable"?
Compliance with tax laws: The requesting spouse's good-faith attempt to comply with the tax laws in years subsequent to the year or years at issue is considered favorably.
We believe that self-assessment upon discovery of errors is evidence of good-faith compliance with the law and should be encouraged.