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 ?
enjoys a fully valid legal right, while the bona fide purchaser'
More than three years after Sanders filed Forms 1040 with the VIBIR, the IRS mailed him a notice of deficiency determining that he was not a bona fide resident of the U.S.
Oral statements made by the CFPB relating to the treatment of LLPAs and bona fide discount points support that approach.
Generally, IRC Section 2036 will include transfers of property made during life in the gross estate of a decedent when the transfer is testamentary in nature, unless the transferor relinquishes all interests in the property through a bona fide sale for adequate consideration.
He is asking the court to rule that his purchase and sale agreement is a bona fide offer and that the town has no further first-refusal option, "having failed to properly exercise the first refusal option within the time period specified by the statute."
Many contractors who choose to pay all of the prevailing wage in cash do so because they're overwhelmed by the perceived complexities of a bona fide benefit plan.
On appeal, the county argued that when a developer conveys to a bona fide purchaser a lot that was previously assessed at the developer's acquisition cost, the lot must be revalued at its purchase price regardless of whether it contains a building.
However, outside of the public service, Nova Scotia allows age discrimination if it is in a bona fide retirement or pension plan, or within the terms or conditions of a bona fide group or employee insurance plan.
" Any bona fide caller will be happy to wait at the door while you check they are genuine."
The new measures have been designed to enable bona fide victims of human trafficking with assistance.
SBHP legislation would allow bona fide trade and professional associations to independently pool their members, gaining bargaining power that the government, big business and unions currently enjoy when negotiating with insurers for health care prices.