Good faith and fair dealing in the commercial contract law

Abstract

Research limitations/implications – the research has been limited to the analysis of commercial good faith and fair dealing doctrine in Lithuanian contract law, UNIDROIT Principles of International Commercial Contracts and Draft Common Frame of Reference. Practical implications – the findings of the research can be applied by judges invoking good faith and fair dealing doctrine in commercial disputes, as well, by businessman determining the limits of their contractual freedom. Originality/Value – A. Norkūnas, R. Balčikonis, S. Drazdauskas, A. Jakaitė, S. Arlauskas, R. Jakūbauskas, S. Cirtautienė and some other authors have analyzed particular aspects of general good faith and fair dealing principle in Lithuanian private law. Although these publications are important to this research in some particular aspects, the peculiarities of this notion applied precisely in Lithuanian commercial contract law have not been discussed. Taking into consideration the absence of legal doctrine in Lithuanian Republic the research is new and original. What is more, considering the importance of the stability of commercial turnover and predictability of outcomes of possible disputes the research may be in particular valuable not only for scholars, but also for practitioners and businessmen.