in good faith


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in good faith

With good intentions; sincerely and fairly. Frankly, it seems like they're here to score political points, rather than to negotiate in good faith. I may have mishandled your account, but it was a simple mistake—I was acting in good faith.
See also: faith, good

in good faith

Fig. with good and honest intent; with sincerity. We are convinced you were acting in good faith, even though you made a serious error. I think you didn't sign the contract in good faith. You never intended to carry out our agreement.
See also: faith, good

in good faith

see under in bad faith.
See also: faith, good

in good ˈfaith

believing that something is correct; believing that what you are doing is right, especially when it has bad consequences: When I recommended Simon for the job, I did it in good faith. I didn’t realize that he had been in trouble with the police.
See also: faith, good
References in periodicals archive ?
In any area of law or business, there are practitioners who will attempt to "game the system," and thereby harm those who seek to employ the system in good faith for its proper purpose.
Valley VOTE believes that the city has an obligation to all residents of Los Angeles to negotiate in good faith a reorganization plan that presents to the voters in November of next year the two best new cities possible, a new Valley city and a new, smaller Los Angeles city.
In addition, taxpayers who obtain an advance pricing agreement or whose pricing methodology was sustained in or imposed as part of a prior IRS audit settlement should be entitled to a presumption that they acted with reasonable cause and in good faith.
An insured/claimant who retracts or rejects a settlement offer based on arbitrary deadlines or mere technicalities may have objectives other than settlement on his or her mind and may not be acting in good faith to try to reach a settlement.
3) Consequently, when an insured surrenders all control to his or her liability insurance carrier over the handling of a claim or lawsuit filed by a third party,"the insurer must assume a duty to exercise such control to make such decisions in good faith and with due regard for the interest of the insured.
6662 or 6663 (relating to fraud) if the taxpayer had reasonable cause for the understatement and acted in good faith.
In addition, under section 6664(c) of the Code, no penalty will be imposed with respect to an underpayment if there was reasonable cause and the taxpayer acted in good faith.
In any forward-looking statement in which ConocoPhillips expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will result or be achieved or accomplished.
11) Each case is determined on its own facts, and the question of the insurer's failure to act in good faith with due regard for the interests of the insured is for the jury.
6662, a noncorporate taxpayer is considered to reasonably believe that the tax treatment of an item is more likely than not proper if the taxpayer analyzes the pertinent facts and authorities and reasonably concludes in good faith that there is a greater-than-50% likelihood that the tax treatment of the item will be upheld if challenged by the Service, or if the taxpayer reasonably relies in good faith on the opinion of a professional tax adviser who has unambiguously stated that he has concluded that there is a greater-than-50% likelihood that the tax treatment of the item will be upheld if challenged.
We are prepared to negotiate in good faith and to conclude a transaction that we believe will be enthusiastically supported by your Board, stockholders, management, employees and other constituencies.
However, the position to be asserted must be one which the lawyer in good faith believes is warranted in existing law or can be supported by a good faith argument for an extension, modification or reversal of existing law.
Fibreboard has been and remains ready to engage in good faith settlement discussions with Continental.
Reasonable cause/good faith defense: Even if the taxpayer does not have substantial authority for the position and failed to make adequate disclosure, the substantial understatement penalty does not apply if the taxpayer had reasonable cause for the tax underpayment and acted in good faith.