COMPLIANCE WITH THE PRINCIPLES OF GOOD FAITH AND FAIRNESS IN ECONOMIC AND CONTRACTUAL RELATIONS

Abstract

The article is devoted to the analysis of the principles of good faith and fairness as the main principles of commercial contractual law. Despite the lack of clear fixation in commercial legislation, the presence and regulatory potential of these principles are confirmed by the available normative body. Approaches to the correlation of fairness and good faith of a transaction are considered. The scientific potential for establishing a connection between honesty and fairness of a transaction based on the prism concept is revealed. The article considers the importance of the principles of good faith and fairness in the context of commercial contractual relations, focusing on their significance despite the absence of clearly established norms in the legislation of Ukraine. It is emphasized that compliance with these principles is a key condition for ensuring legal balance between the parties to business activity—they contribute to the transparency of contractual mechanisms and prevent violations that can negatively affect the stability of economic circulation.It has been established that the principles of law significantly affect contractual relations between the parties, in particular those involving business entities. However, due to insufficient research in the field of commercial law, an analysis of the relationship and influence of the principles of freedom of contract and good faith in the context of commercial contractual relations is of particular interest and scientific perspective.In the Ukrainian legal system, good faith and fairness are important means: honesty helps to avoid legal formalism, while fairness serves as a criterion for eliminating legal imbalances that arise due to excessive freedom of contracts.The author emphasizes that these principles have not only practical benefits, but also constitute a fundamental basis for improving the regulation of transactions in the business sphere. The study uses the provisions of current legislation and presents the positions of experts in jurisprudence.