What is the duty of good faith and fair dealing

Assignment Help Business Law and Ethics

Reference no: EM133191770

Comprehensive Coverage of the UCC

The UCC is the single most comprehensive codification of the broad spectrum of laws involved in a total commercial transaction. The UCC views the entire "commercial transaction for the sale of and payment for goods" as a single legal occurrence having numerous facets. The articles and sections of the UCC are periodically revised or supplemented to clarify certain aspects or to establish new rules as needed when the business environment changes.

You can gain an idea of the UCC's comprehensiveness by looking at the titles of the articles of the UCC in Appendix C. As you will note, Article 1, titled General Provisions, sets forth definitions and general principles applicable to commercial transactions. For instance, there is an obligation to perform in "good faith" all contracts falling under the UCC [UCC 1-304]. Article 1 thus provides the basic groundwork for the remaining articles, each of which focuses on a particular aspect of commercial transactions.

Does the duty of good faith and fair dealing apply to contracts other than contracts for sales of goods? That question arose in the following case.

Legal Reasoning Questions

Question 1. What is the duty of good faith and fair dealing (see Offer)?

Question 2. To what type of contracts does the duty apply?

Question 3. What type of contract was at the center of this case?

Question 4. Did the court conclude that the duty of good faith and fair dealing applied in this case? Why or why not?

Reference no: EM133191770

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