Purchasing Officer Question:

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Described "good faith" in contracting?

Purchasing Officer Interview Question
Purchasing Officer Interview Question

Answer:

Under the UCC good faith means honesty in fact in the conduct or transactions concerned.

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Are vendors bound by the requirements contracts awarded to two different vendors for the same set of requirements without disclosing this information to both vendors?When the risk of loss pass to a buyer when goods are purchased FOB the buyer's plant?