Good Faith and Fair Dealing, Essay Example

The subject matter at hand discusses the case of Allen v. El Paso Pipeline GP Company and the moral and ethical implications that the case has brought about. The article discusses things that take place in “good faith and fair dealing” (Reid) in regards to limited partnerships. The reason as to why this is so important is because of the manner in which it is vital that all legal cases have some sort of ethics and morals behind them. A way in which this can invariably be enforced is for both sides of an agreement to state their full intentions within the agreement. What this is saying is that there should be absolutely no implicit implications in regards to what a side of an agreement intends to do in the middle of an agreement. If and when one side of the agreement fails to explicitly state their full intentions within an agreement, then there is room for miscommunication and, ultimately, corruption.

The best way to make sure that both sides of an agreement are fully stating their full intentions and what they wish to gain out of an agreement, there should always be and experienced attorney present whenever an agreement is being made so that everything that happens is taken down and so that nothing goes wrong in future events. Another key factor that the article mentions when discussing legal matters is that “clarity and completeness is key.” (Reid) The reason this holds true is because if one side of the agreement is fully clear but the other side fails to be as clear, then this leaves a lot of room for misinterpretation. This is often the pivotal point when things go wrong because things were not made very clear from the very beginning. In order to fully prevent cases like these to take place in the future, it is extremely advisable that an attorney at law be present whenever agreements are being made between big corporations. These attorneys have been educated for a reason, so it would be extremely wise for corporations to use their services and assistance.

References

Reid, B. (2014, July 2). ‘Good Faith and Fair Dealing’ in Contract Law Does Not Impose Abstract Morality | Brad Reid. Retrieved from http://www.huffingtonpost.com/brad-reid/good-faith-and-fair-deali_b_5551088.html