Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
duty of good faith and fair dealing
A duty that is implied in some contractual relationships, requiring the parties to deal with each other fairly, so that neither prohibits the other from realizing the agreement's benefits. This duty is most commonly implied in insurance contracts, and usu. against the insurer, regarding matters such as the insurer's obligation to settle reasonable demands that are within the policy's coverage limits. See GOOD FAITH; BAD FAITH.
fair dealing
n. 1. The conduct of business with full disclosure, usu. by a corporate officer with the corporation. 2. A fiduciary's transacting of business so that, although the fiduciary might derive a personal benefit, all interested persons are fully apprised'of that potential and of all other material information about the transaction. Cf. SELF-DEALING.
implied covenant of good faith and fair dealing
See COVENANT (1).