There is a generally accepted legal principle that, outside of certain particular situations (e.g. partnerships), English law does not recognise a general implied contractual duty to act in good faith. Although there will normally be remedies available where one party actively lies to the other, there has been a wariness about going further and imposing a more active duty of fair dealing which might, for example, require a party to unilaterally disclose information which could be to its disadvantage.
David Webster, Partner in the Corporate and Commercial Team, looks at the recent High Court case of Yam Seng PTE Ltd v International Trade Corp Ltd and the fundamental changes that may be occuring in English law.
Leap of faith - Is English law heading towards a general contractual duty of good faith - May 2013.pdf