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Simple English definitions for legal terms
bonae fidei
Read a random definition: two-tier offer
A quick definition of bonae fidei:
Term: BONAE FIDEI
Definition: Bonae fidei means that someone is acting honestly and with good intentions. It is a Latin phrase that is used to describe a situation where someone is acting in good faith. This means that they are not trying to deceive anyone or do anything wrong. It is important to act bonae fidei in many situations, such as when making a business deal or entering into a contract with someone.
A more thorough explanation:
Definition: Bonae fidei (boh-nee fI-dee-I) is a Latin term that means "of good faith" or "in good faith."
- When signing a contract, both parties are expected to act in bonae fidei.
- A seller must disclose any known defects in a product to the buyer in bonae fidei.
These examples illustrate how the term bonae fidei is used to describe a situation where both parties are expected to act honestly and in good faith. In the first example, both parties are expected to fulfill their obligations as outlined in the contract without any deceit or dishonesty. In the second example, the seller is expected to provide accurate information about the product to the buyer, even if it may negatively impact the sale.