Indiana Code 26-1-1-203. Obligation of good faith
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Terms Used In Indiana Code 26-1-1-203
- 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.
Sec. 203. Every contract or duty within IC 26-1 imposes an obligation of good faith in its performance or enforcement.
Formerly: Acts 1963, c.317, s.1-203. As amended by P.L.152-1986, SEC.116.