Definition, Meaning & Synonyms
utmost-good-faith
Phrase
/ˈʌtˌmoʊst ɡʊd feɪθ/
Definition
The utmost good faith refers to a standard of honesty and transparency required in certain contractual relationships, especially in insurance and financial transactions.
Examples
- The insurer is obligated to act in utmost good faith towards the policyholder.
- Both parties entered the agreement with utmost good faith, ensuring a fair transaction.
Meaning
This principle demands that all parties involved in a contract act honestly without any intention to deceive or mislead others.
Synonyms
- Honesty
- Integrity
- Transparency
- Fair dealing
