Question

What is the term used for a legal principle that requires parties to a contract to act in good faith and deal fairly with each other?

• A. Doctrine of frustration
• B. Doctrine of privity
• C. Doctrine of consideration
• D. Doctrine of uberrimae fidei

Hint:

In contracts that involve trust, such as insurance, the doctrine of uberrimae fidei ensures both parties disclose all relevant facts truthfully.

Answer 1

The Correct Option is D

The term "Doctrine of uberrimae fidei" refers to the legal principle that parties to a contract must act in good faith and deal with each other fairly and honestly, especially in situations involving trust and confidence, such as insurance contracts.