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Vol. XIX, No. 1
expression means that people are generally and by and large supposed to be men of integrity and reliability and that it is always a good convention to take them as such and to commence social dealing with them. So in a way our dealing and interaction with the people are based on the principle of utmost good faith. Based on this premise, we commence our dealings with them with the fond hope that all will go well in the future transactions and that the persons shall not effect any sort of violation or betrayal or the sense of good faith reposed in them. Although, there are good many chances that the observance of utmost good faith by them will be maintained, yet in a good number of instances which come to our notice in human dealings, it is very generally found that people do depict a sense of betrayal at one point of time or another during the currency of our social or commercial dealings with them. Quite naturally such a state of affairs does affect the right thinking and right living people, but there is no immediate and curable remedy for their non-recurrence in future or for undoing of the consequences which have taken place as a result of this social aberration.
We have further extended the principle of utmost good. faith (Uberrima Fides) as enshrined in the important discipline of insurance to other higher aspects comprising contractual duty of utmost good faith, common law duty of utmost good faith, disclosure of all material facts of the situation in the first instance or as per further developments taking place thereafter, the law of indemnity, the law of averages also called the law of probability or the laws of large numbers, principles of subrogation, insurable interest, contribution, sharing of losses, co-insurance etc. All these extended principles of insurance have been based more or less on the basic principle of faith extended to good faith and further extended to utmost good faith.
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Whenever we commence our dealings with the persons, we have to take a positive opinion about the integrity or reliability of the man and would expect him to disclose
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