What is Good Faith?
Good Faith is, “an honest intention to abstain from taking any unconscientious advantage of another, even through technicalities of law, together with absence of all information, notice, or benefit or belief of facts which render transaction unconscientious.” (Black’s Law Dictionary 822. 4th Ed. Rev. 1968). Good faith is a broad term that describes general honesty in dealing and communication.
More specifically, good faith can refer to a party acting with an honest intention not to behave unfairly or fraudulently. In contract law, good faith implies that parties will deal with each other honestly and fairly, and stick to agreed-upon terms. In negotiation, acting in good faith would mean communicating honestly, without ulterior motives. Parties are required to act in good faith in many legal systems. If they do not, they may be penalized.
Cases such as Waugh v. Prince have simply taken acting in good faith to be acting, “Honestly, without fraud, collusion or deceit; really, actually, without pretense.” There is an assumed trust between negotiators, as well as between insurers and policyholders. Acting in bad faith would be one party taking advantage of that trust, and using it to defraud or cheat another party. Acting in good faith is important not only in business dealings or insurance, but in the legal system as well.
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Fighting the Insurance Company After a TBI
Why You Need a Personal Injury Lawyer to Help Fight the Insurance Company After a TBI
We don’t often think about the brain and the hundreds of thousands, if not millions, of different ways we use it every day. But break down each part of your day into its component parts and you begin to see just how much your brain does for us.
Even making your morning coffee becomes a multi-faceted, complex operation your brain runs each and every day. Even more fundamental than that, your brain directs your body to do numerous things that we never even think about: it makes sure that you breathe, it tells your heart to beat, and it directs your body to digest the food that you eat.
So what happens when you or someone you love suffers a traumatic brain injury (TBI), […]
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Can a Car Accident Claim be Reopened?
Can You Reopen a Past Car Accident Claim?
The aftermath of a car accident can be an immensely stressful and overwhelming time. The financial burden of medical bills and additional damages, the mental and emotional weight of trying to get back to your regular life, the physical strain of your injuries–it’s a lot. What’s more, the process of making an insurance claim or a legal claim can feel wildly daunting. It’s very normal to feel confused by the process, and to want it to be settled and done as quickly as possible. No one wants to spend more time than they have to talking to the insurance company and navigating the claims process when they’re trying to heal.
But what happens if you do reach a settlement agreement and close your car accident claim, only to realize that, […]
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Allstate’s $950,000 Blunder
Allstate required to pay out nearly a million dollars after delaying insurance coverage of fatal car crash
Attorney Daniel W. Munley, a partner in the law firm of Munley Law Personal Injury Attorneys, negotiated a $950,000.00 settlement on behalf of the family of a teenager killed in an automobile crash in 2001.
The defendant, who received his driver’s license just weeks before, was driving his mother’s Camaro at an excessive speed when he crossed double yellow lines to pass another vehicle and lost control of his automobile. The plaintiff‘s son was thrown from the vehicle and suffered a fatal wound.
The defendant’s insurance company, Allstate, failed to pay its obvious driver’s liability and delayed the case for a number of years. Attorney Munley offered Allstate numerous opportunities to act in good faith, […]
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