4.1.1 Law and Economics Practitioners View
The law and economics practitioners embrace the view that only a minimal, perhaps negligible, ethical standard underpins the concept of good faith in contract law:
Contract law does not require parties to act altruistically toward each other; it does not proceed on the philosophy that I am my brother’s keeper. That philosophy may animate the law of fiduciary obligations but parties to a contract are not each other’s fiduciaries…
In practice, the good faith standard, by operating as an excluder of bad faith, necessarily focuses on the subject of intent of the acting party.