As defined by the UCC,"good faith" involves the observance of objective reasonable commercial standards of fair dealing but there is no requirement as to honesty in fact.

Question

Quizplus · Accepted Answer

The UCC definition of "good faith" includes not only the observance of reasonable commercial standards of fair dealing but also the requirement of honesty in fact in the conduct or transaction concerned.

As Defined by the UCC,"good Faith" Involves the Observance of Objective