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uberrima fides
(redirected from Utmost Good Faith)

    Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.02 sec.

uberrima fides

Principle underpinning insurance contracts. The doctrine of utmost good faith means that the person who is offering the risk to an insurer is obliged to make a complete disclosure of all material facts that would affect the insurers' appreciation of the risk. This includes material facts that are not revealed by the questions on any proposal form. Failure to disclose a material fact renders the policy void and any claims will not be met by the insurer.
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They are required to act in utmost good faith, and in accepting the office they impliedly undertake to give to the enterprise the benefit of their best care and judgment, and to exercise the powers conferred solely in the interests of the corporation.
Directors' fiduciary duties: increasing focus on good faith and ... by Davis, Gardner; Whitley, Danielle / Florida Bar Journal
The relationship between an insurance agent or broker and the person acquiring insurance requires the agent to treat the insured with the utmost good faith.
Absolute agent statements are absolutely dangerous by Zalma, Barry / American Agent & Broker
Many creditors, in recent times, work on the principle of utmost good faith, which means the borrower has to prove fair past dealings before the new transaction begins.
Getting Rid of Your Bad Credit by Tom Tessin / Finance and Investment community
 
 
 
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