GOOD FAITH

absence of intent to commit fraud.

Honestly and without deception. An agreement might be declared invalid if one of the parties entered with the intention of defrauded the other.

The duty of each party to an agreement (and all officers, employees, or agents of each party) to act in a fair and equitable manner toward each other so as to guarantee each party freedom from coercion, intimidation, or threats of coercion or intimidation from the other.

Total absence of intention to seek unfair advantage or to defraudanother party; an honest intention to fulfill one's obligations; observance ofreasonable standards of fair dealing. In property law, a good faith purchaserof land pays value for the land and has no knowledge or notice of any factsthat would cause an ordinary prudent person to make inquiry concerning thevalidity of the conveyance.