Reasonableness and good faith
Applied in 1 court decision — leading case Louis Latour, Inc. v. Virginia Alcoholic Beverage Control Board and The Country Vintner, Inc. (2007)
Most recently applied in Louis Latour, Inc. v. Virginia Alcoholic Beverage Control Board and The Country Vintner, Inc. (May 2007)
Code 1950, § 4-118.40; 1985, c. 542, § 4-118.60; 1989, c. 10; 1993, c. 866.
A. Every agreement entered into under this chapter shall impose on the parties the obligation to act in good faith.
B. This chapter shall impose on every term and provision of any agreement a requirement of reasonableness. Every term or provision shall be interpreted so that the requirements or obligations imposed therein are reasonable.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.