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Current as of January 01, 2025 | Updated by FindLaw Staff
(a) Unless displaced by this chapter, principles of law and equity, including the merchant law and the common law of the Commonwealth relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, and other validating or invalidating cause, supplement this chapter. Among the laws supplementing and not displaced by this chapter are trade secret laws and unfair competition laws, including application of such laws as they may deal with failure to disclose defects.
(b) Every contract or duty within the scope of this chapter imposes an obligation of good faith in its performance or enforcement.
(c) Any usage of trade in the vocation or trade in which the parties are engaged or of which the parties are or should be aware and any course of dealing or course of performance between the parties are relevant to determining the existence or meaning of an agreement.
Cite this article: FindLaw.com - Virginia Code Title 59.1. Trade and Commerce § 59.1-501.16. Supplemental principles; good faith; commercial practice - last updated January 01, 2025 | https://codes.findlaw.com/va/title-59-1-trade-and-commerce/va-code-sect-59-1-501-16/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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