Bona Fide

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Bona Fide

[Latin, In good faith.] Honest; genuine; actual; authentic; acting without the intention of defrauding.

A bona fide purchaser is one who purchases property for a valuable consideration that is inducement for entering into a contract and without suspicion of being defrauded or deceived by the seller. He or she has no notice of any defects of the title. A bona fide purchaser pays in Good Faith full value for the property and, without any Fraud, goes into possession.

bona fide

adj. Latin for "good faith," it signifies honesty, the "real thing" and, in the case of a party claiming title as "bona fide" purchaser or holder, it indicates innocence or lack of knowledge of any fact that would cast doubt on the right to hold title.

BONA FIDE. In or with good faith.
     2. The law requires all persons in their transactions to act with good faith and a contract where the parties have not acted bona fide is void at the pleasure of the innocent party. 8 John. R. 446; 12 John. R. 320; 2 John. Ch. R. 35. If a contract be made with good faith, subsequent fraudulent acts will not vitiate it; although such acts may raise a presumption of antecedent fraud, and thus become a means of proving the want of good faith in making the contract. 2 Miles' Rep. 229; and see also, Rob. Fraud. Conv. 33, 34; Inst. 2, 6 Dig. 41, 3, 10 and 44; Id. 41, 1, 48; Code, 7, 31; 9 Co. 11; Wingate's Maxims, max. 37; Lane, 47; Plowd. 473; 9 Pick. R. 265; 12 Pick. R. 545; 8 Conn. R. 336; 10 Conn. R. 30; 3 Watts, R. 25; 5 Wend. R. 20, 566. In the civil law these actions are called (actiones) bonae fidei, in which the judge has a. more unrestrained power (liberior potestas) of estimating how much one person ought to give to or do, for another; whereas, those actions are said to be stricti juris, in which the power of the judge is confined to the agreement of the parties. Examples of the foraier are the actions empti-venditi, locati-conducti, negitiorum gestorum, &c.; of the latter, the actions ex mutus, ex chirographo, ex stipilatu, ex indebito, actions proescriptis verbis, &c.

References in periodicals archive ?
So, there is no harm in giving full marks to Lahore's CCPO's and DIG Operations' formal request put up to higher authorities that actions taken by anti-riot force/police in good faith must be given indemnity.
25, 1996) (in finding a substantial need, the court compelled production of the file because the claims file sought was "the only record of how Transport handled the claim and, therefore, the only evidence on whether Transport acted reasonably or in good faith in failing to settle the claim against Post Express in the [insured's] lawsuit.").
In other words, if a Coblentz plaintiff were not required to prove that the settlement it reached with the insured was both reasonable and entered into in good faith in order to enforce its consent judgment against the insurer, the insured would be incentivized to "lie down" and offer the claimant a judgment for an exorbitant amount bearing no relationship to the damages actually suffered by the insured, because the insured knows the claimant would readily offer in exchange for this bounty a release from liability.
The authors suggest that insurers are hamstrung by being prevented from even presenting evidence that such offers were not made in good faith.
The defendants responded that both parties had been untimely in their discovery responses, and that the defendants produced the documents in good faith in order to ensure that all potentially relevant documents were produced.
1993), the court stated that the insurer could not act with impunity in settling a case within the insured's deductible and that settlement must be made in good faith.
The [Act] requires insurers to "attempt in good faith to effectuate claims in which liability has become reasonable clear." A violation of this provision gives rise to an independent cause of action pursuant to [the Act].
It exposes insurers who do not act in good faith to the risks of extracontractual liability and damages in excess of policy limits.
Florida's bad faith statute permits "any person" to bring a bad faith action against an insurer for not attempting in good faith to settle a claim.