§1553.  Construction

A.  Supplementary general principles of law applicable.  To the extent not inconsistent with the particular provisions of this Chapter, the principles of Louisiana law shall supplement its provisions.

B.  Obligation of good faith.  Every contract or duty within this Chapter 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.

Added by Acts 1979, No. 715, §1, eff. July 1, 1980; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.