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The Implied Covenant of Good Faith and Fair Dealing: Does It Protect Members of Delaware LLCs?

Lewis H. Lazarus and Jason C. Jowers
Business Law Today
(November 2011), pp. 1-4
Published by: American Bar Association
Stable URL: http://www.jstor.org/stable/businesslawtoday.2011.11.03
Page Count: 4
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The Implied Covenant of Good Faith and Fair Dealing: Does It Protect Members of Delaware LLCs?
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Abstract

The one duty that parties cannot waive in a Delaware limited liability company (LLC) agreement is the duty to act consistently with the implied contractual covenant of good faith and fair dealing.

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