421.108 Obligation of good faith. Every agreement or duty within chs. 421 to 427 imposes an obligation of good faith in its performance or enforcement. “Good faith" means honesty in fact in the conduct or transaction concerned and the observance of reasonable commercial standards of fair dealing.
History: 1971 c. 239; 1979 c. 89.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 421 - Consumer transactions — general provisions and definitions.
421.102 - Purposes; rules of construction.
421.104 - Construction against implied repeal.
421.106 - Settlement of claims; agreement to forego rights; waiver.
421.107 - Effect of chapters 421 to 427 on powers of organizations.
421.108 - Obligation of good faith.
421.201 - Territorial application.
421.203 - Partial exclusion for governmentally insured or guaranteed transactions.