Good Faith In Modern Contract Law

Good faith become a part of Contract law in Roman age, and modern Contract law set Good faith as a basic principle. Because its legal regulating fuction & moral regulating fuction suit the demand of economic delevopment, Good faith brings into playing a more & more important role. However, in chinese changing society, in one hand there are some"bad faith"transactions, such as contract dolus , escaping debts, making and selling goods of inferior quality & imitating prestiges and market economy confront faith crisis. In the other hand there are few people knowing the importance of Good faith & how Good faith influence transaction. So it is necessary that makes the importance of Good faith to modern contract law as the core, studies and expounds Good faith and some legal questions about it. The article, through seeing the basis meanings & the emerging process & fuctions, poses that subjective faith, objective faith, judgement faith consist of Good faith & it analysises and sums up the 3 fuctions of Good faith. Analysising the value system of modern contract law ,it thinks that the economic fuctions of Good faith suit the system .Analysising the limitation of the principle of freedom contract & the revision of Good faith to it, the article poses that Good faith becomes the basic principle of modern contract law because of the revision. Through expounding particular influences to modern contract law in transaction each stage, proofs the importance of Good faith and gives some advices to existing contract law's system of good faith.