JC - Simplicity, youtube/watch?v=fWkojiANdkw §4:10 Definition In every contract there is an implied covenant of good faith and fair dealing by each party not to do anything which will deprive the other parties of the benefits of the contract, and a breach of this covenant by failure to deal fairly or in good faith gives rise to an action for damages. §4:20 Elements §4:21 Contract An action for breach of the implied covenant of good faith and fair dealing requires an underlying agreement of some sort (contract, letter of intent, preliminary agreement to use best efforts to agree, etc.). §4:22 Duty of Good Faith and Fair Dealing The covenant imposes on each party to the contract the duty to refrain from doing anything which would render performance of the contract impossible by any act of his own, and also the duty to do everything that the contract presupposes that each party will do to accomplish its purpose. §4:23 Breach of Implied Covenant A party to a contract breaches the implied covenant of good faith and fair dealing by interfering with or failing to cooperate with the plaintiff in the performance of the contract. Witkin, Summary of California Law, Contracts, §744 (8th ed.). §4:24 Causation and Damage The breaching party is liable for all damages proximately resulting from the conduct. §4:30 Authorities Textbook law of price, coupled with one case – America’s U.S. v. Container, 393 US 333 (’69).
Posted on: Sat, 15 Mar 2014 05:43:14 +0000
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