Virginia Code 55.1-2110: Obligation of good faith.
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Every contract or duty governed by this chapter imposes an obligation of good faith in its performance or enforcement.
Terms Used In Virginia Code 55.1-2110
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
1982, c. 277, § 55-435; 2019, c. 712.