Maine Revised Statutes Title 35-A Sec. 3309 – Performance of contracts; commercially reasonable business practices
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Terms Used In Maine Revised Statutes Title 35-A Sec. 3309
- Contract: A legal written agreement that becomes binding when signed.
- Transmission and distribution utility: means a person, its lessees, trustees or receivers or trustees appointed by a court, owning, controlling, operating or managing a transmission and distribution plant for compensation within the State, except where the electricity is distributed by the entity that generates the electricity through private property alone solely for the use of:
In the performance or enforcement of any contract for the purchase of energy resources by a transmission and distribution utility, all parties shall act in good faith and observe reasonable commercial standards of fair dealing. Conformance to this standard does not constitute imprudent utility behavior. [PL 1999, c. 398, Pt. A, §83 (AMD); PL 1999, c. 398, Pt. A, §§104, 105 (AFF).]
SECTION HISTORY
PL 1993, c. 712, §7 (NEW). PL 1999, c. 398, §A83 (AMD). PL 1999, c. 398, §§A104,105 (AFF).