An unwritten obligation underlying all contractual agreements is the duty to act

Question

Quizplus · Accepted Answer

The duty to act ethically is a fundamental and widely recognized principle underlying all contractual agreements. Parties are expected to act with honesty, good faith, and fairness in carrying out their obligations and exercising their rights under the contract. While parties may also have a duty to act agreeably or promptly, these obligations are typically spelled out in the terms of the contract itself, rather than being implicit in the agreement. The duty to act to one's best advantage is not a recognized principle of contract law, as it would undermine the mutual benefit and ongoing trust that are necessary for successful contractual relationships.

An Unwritten Obligation Underlying All Contractual Agreements Is the Duty