45A.015 General provisions of law applicable -- Obligation of good faith

45A.015 General provisions of law applicable -- Obligation of good faith.

(1) Unless displaced by the particular provisions of this code, the principles of law and

equity, including the Uniform Commercial Code, the law merchant, and law relative

to capacity to contract, agency, fraud, misrepresentation, duress, coercion, mistake,

and bankruptcy, shall supplement its provisions.

(2) Every contract or duty under this code shall impose an obligation of good faith in its

performance or enforcement. "Good faith" shall mean honesty in fact in the

conduct or transaction concerned and the observance of reasonable commercial

standards of fair dealing.