What obligation is imposed by every contract duty or relationship, including intermediary relationships?

In the context of contracts, particularly in real estate and intermediary relationships, the obligations of fair dealing and good faith are fundamental principles. Fair dealing refers to the expectation that parties will conduct their business honestly and fairly, without misleading or deceiving one another. It establishes a baseline for behavior that promotes trust and cooperation.

Good faith, on the other hand, is often defined as acting with honesty and sincerity, without taking unfair advantage of the other party. It emphasizes the intention to fulfill obligations reasonably and honestly, ensuring that neither party undermines the agreement or the relationship.

When both fair dealing and good faith are recognized as obligations in a contract, they work together to create a framework for ethical interactions and support the foundation of trust necessary for the parties involved. This is particularly vital in intermediary relationships, where agents must navigate the needs and expectations of different clients while maintaining professionalism and loyalty.

By acknowledging both fair dealing and good faith as essential duties, contracts are reinforced, and the likelihood of disputes is reduced, ensuring that relationships remain constructive and transparent. This combined obligation promotes the general principles of integrity and ethical conduct within the realm of real estate transactions.