Are good faith and reasonableness conceptually identical?
The same facts may result in a finding that there has been a failure to act in good faith and/or a failure to act reasonably, but that does not mean that good faith and reasonableness are conceptually identical. For instance, if the litmus test of good faith was to be confined to honesty and genuineness, it would not necessarily extend to unreasonable (and/or unfair) conduct. A person may act honestly without necessarily acting reasonably. • What is the meaning of clause 2.2? While we question the appropriateness of reading the requirement of clause 2.2 to act fairly and reasonably as a requirement to act in good faith and would suggest that each of the words “fairly” and “reasonably” can be given their own meaning, we nevertheless do question the meaning of the whole of the obligation prescribed by clause 2.2 which is to “act fairly and reasonably towards [the customer] in a consistent and ethical manner”. On their face the words “in a consistent and ethical manner” arguably qualify a
