What is good faith under the law?

In Ochoa v. Apela, the Supreme Court held that "good faith" is an intangible and abstract quality with no technical meaning or statutory definition, and it encompasses, among other things, an honest belief, the absence of malice and the absence of design to defraud or to seek an unconscionable advantage. It implies honesty of intention, and freedom from knowledge of circumstances which ought to put the holder upon inquiry.[1]

[1] Ochoa v. Apela, G.R. No. 146259, September 13, 2007.