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Good faith, or in Latin bona fide, is an individual’s belief that a social group has good goals, capabilities, principles, measures and integrity. One is said to be acting in good faith when his intentions and purported capabilities are consistent with faith that the group has greater efficiency and wisdom than its parts, including himself. An assumption of good faith is belief that another member intends to act in the best interests of the group and has the capability that he purports to do so.
In law, especially equitable matters[1], good faith is the mental and moral state of honesty, conviction as to the truth or falsehood of a proposition or body of opinion, or as to the rectitude or depravity of a line of conduct, even if the conviction is considered by the court to be unfounded.
for example:
In both commercial and noncommercial law, persons who in good faith pay a fraudulent seller valuable consideration for property are protected from another person who claims legal title to the property. If a court establishes the purchaser's good faith defense, the person who claims title has recourse only against the fraudulent seller.