Under the UCC, good faith means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.

Name: Under the UCC, good faith means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.
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Good faith is defined in Section 1-201(20) of the UCC as "honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade."

Under the UCC, Good Faith Means Honesty in Fact and the Observance