"Honesty in fact and the observance of reasonable commercial standards of fair dealing" is the definition of good faith according to
A) Statute
B) The Uniform Commercial Code and common law
C) U.S. Constitution
D) Executive orders

Question

Quizplus · Accepted Answer

The Uniform Commercial Code (UCC) and common law define "good faith" as honesty in fact and the observance of reasonable commercial standards of fair dealing. This concept is particularly relevant in commercial transactions and contracts.

"Honesty in Fact and the Observance of Reasonable Commercial Standards