“Acting in good faith” is an implied obligation that assumes that the parties to a contract will act in good faith and deal fairly with one another without breaking their word, using shifty means to avoid obligations, or denying what the other party obviously understood. In light of the language in Article 2 of the UCC and the specificity required in sales or lease contracts in order for them to be enforceable, do you believe that merchants should be required to act in good faith? Conversely, do merchants owe it to their own business interests to take advantage of any opportunities from which they would benefit if the requirement to “act in good faith” were absent? Use examples to support and illustrate your position, and cite any sources properly.
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