<br><br>45A.015 General provisions of law applicable -- Obligation of good faith. <br>(1) Unless displaced by the particular provisions of this code, the principles of law and <br>equity, including the Uniform Commercial Code, the law merchant, and law relative <br>to capacity to contract, agency, fraud, misrepresentation, duress, coercion, mistake, <br>and bankruptcy, shall supplement its provisions. <br>(2) Every contract or duty under this code shall impose an obligation of good faith in its <br>performance or enforcement. "Good faith" shall mean honesty in fact in the <br>conduct or transaction concerned and the observance of reasonable commercial <br>standards of fair dealing. <br>Effective: January 1, 1979 <br>History: Created 1978 Ky. Acts ch. 110, sec. 3, effective January 1, 1979. <br><br>