Unformatted text preview: 3. to permit inquiry into a party’s exercise of discretion expressly granted by a contract’s terms §2-103(b) “good faith” – means honesty in fact and commercial reasonableness . Roy Notes : • You can violate obligation of good faith even if you perform every part of the contract. • Good faith is an excluder – it excludes bad faith and what’s left over is good faith. • Here, implied obligation of good faith even when there is equal bargaining power....
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This note was uploaded on 04/10/2011 for the course LAW 501 taught by Professor Roy during the Fall '08 term at Ole Miss.
- Fall '08