uberrima fides


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uberrima fides

(ˈjuːbəˌriːmə ˈfaɪdiːz; juːˈbɛrɪmə)
n
(Insurance) another name for utmost good faith
[Latin: utmost good faith]
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McCamus identified three situations that have generally triggered good faith duties in contractual performance: "where the parties must cooperate in order to achieve the objects of the contract; where one party exercises a discretionary power under the contract; and where one party seeks to evade contractual duties." (37) These situations are characteristic of what the common law refers to as uberrima fides contracts, or contracts "requiring the utmost good faith".
When I became a member of the UK financial services industry in 1971, it was on the premise of 'Uberrima fides', yet 40 years later utmost good faith no longer applies to all the British MPs, or seemingly to some of the financial press.
By the time of this convention Napslo designed its logo with the saying "Uberrima Fides"-"In Utmost Good Faith."