Bona Fide Legal Meaning and Definition

Here is a simplified definition of the legal term Bona Fide.

Bona Fide (adjective)

A Latin term meaning "in good faith," often used in the legal context to describe actions taken honestly, without the intention to deceive. This term is commonly applied to contracts and transactions, where the involved parties are required to act with bona fide intentions. The absence of these good faith intentions can potentially make a contract invalid.