Good faith, for purposes of UCC Article 3, is "honesty in fact and the ob?servance of reasonable commercial standards of fair dealing."

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This definition of good faith is specified in UCC Article 3, which governs negotiable instruments such as promissory notes and checks. It is important to observe reasonable commercial standards of fair dealing and act with honesty in order to uphold the integrity of these financial transactions.

Good Faith, for Purposes of UCC Article 3, Is "Honesty