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Good Faith
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This article assesses the recent Disney decision and argues that on the facts presented, the decision was probably correct. However, the court squandered an opportunity to develop and articulate an appropriate doctrinal approach for the issues the case presented. The case was an excellent opportunity for courts to provide some means to constrain executive compensation, and more generally, to address problems caused by "structural bias," the cozy relationship directors may have with officers. The court created space for a doctrine of good faith, but it provided little guidance as to how that doctrine might work, even in cases like Disney itself. An extension of the duty of good faith that could provide a bit more bite is suggested. Plaintiffs should be allowed to demonstrate bad faith wi...
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...: Defense of Good Faith Reliance on Administrative Regulations, Etc....
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Finally, they might be getting it right. As a part of the sweeping changes to the mortgage industry, the federal government about two years ago stepped in and decided to redesign the good-faith estimate form that all lenders are required to give borrowers. Now the government is moving steadily toward a new, more friendly disclosure that will ultimately combine the good- faith and another oft-misunderstood piece of paper -- the truth-in- lending statement.
