Template:Good faith capsule: Difference between revisions
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===“[[Good faith]] and [[commercially reasonable manner]]” as a general standard=== | ===“[[Good faith]] and [[commercially reasonable manner]]” as a general standard=== | ||
Whether a merchant should commit himself to dealing in [[good faith]], or in a [[commercially reasonable manner]], is one that vexes a surprising number of attorneys. Especially American ones. The only discomfort it should occasion is to a solicitor’s livelihood, for this magic expression, while doing no more than articulating the basic commercial outlook of a [[good egg]], puts many a tedious negotiation to the sword | Whether a merchant should commit himself to dealing in [[good faith]], or in a [[commercially reasonable manner]], is one that vexes a surprising number of attorneys. Especially [[US Attorney|American ones]]. The only discomfort it should occasion is to a solicitor’s<ref>Being an officer of the court, American friends, and not someone who goes door-to-door selling encyclopaedias.</ref> livelihood, for this magic expression, while doing no more than articulating the [[commercial imperative]] and the basic commercial outlook of a [[good egg]], puts many a tedious [[negotiation]] to the sword. | ||
Everyone benefits but officers of Her Majesty's — or (''cough'') the People’s — courts. | |||
As for commercial reasonableness, and that objection I can already see you formulating that it admits shades of doubt, and encourages litigation | A {{tag|contract}} is a bond of [[trust]]. How would a merchant explain to his counterparty that he wished to reserve for himself the right to act in ''[[bad faith]]''? | ||
As for [[commercial reasonableness]], and that objection I can already see you formulating that it admits shades of doubt, and encourages litigation well, the great case of {{casenote|Barclays|Unicredit}} should be a source of great succour to you. <br> | |||
And for you Americans, for whom {{casenote|Barclays|Unicredit}} is of persuasive value only, there is the fact that this standard is written into the [[Uniform Commercial Code]]. and the {{1994csa}}. | |||
Revision as of 11:34, 16 January 2020
“Good faith and commercially reasonable manner” as a general standard
Whether a merchant should commit himself to dealing in good faith, or in a commercially reasonable manner, is one that vexes a surprising number of attorneys. Especially American ones. The only discomfort it should occasion is to a solicitor’s[1] livelihood, for this magic expression, while doing no more than articulating the commercial imperative and the basic commercial outlook of a good egg, puts many a tedious negotiation to the sword.
Everyone benefits but officers of Her Majesty's — or (cough) the People’s — courts.
A contract is a bond of trust. How would a merchant explain to his counterparty that he wished to reserve for himself the right to act in bad faith?
As for commercial reasonableness, and that objection I can already see you formulating that it admits shades of doubt, and encourages litigation well, the great case of Barclays v Unicredit should be a source of great succour to you.
And for you Americans, for whom Barclays v Unicredit is of persuasive value only, there is the fact that this standard is written into the Uniform Commercial Code. and the 1994 NY CSA.
- ↑ Being an officer of the court, American friends, and not someone who goes door-to-door selling encyclopaedias.