(a) In this section, “good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.

(b) A manufacturer, distributor, or factory branch, whether directly or through an agent, employee, or representative, may not fail to act in good faith:

(1) In acting or purporting to act under the terms, provisions, or conditions of any franchise agreement; or

(2) In any transaction or conduct governed by this subtitle.