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 speak an unconscionable advantage. An individual's personal good faith is a concept of his own mind and, therefore, may not conclusively be determined by his protestations alone. It implies honesty of intention, and freedom from knowledge of circumstances which ought to put the holder upon inquiry. The essence of good faith lies in the honest belief in the validity of one's right, ignorance of a superior claim, and absence of intention to overreach another (PNB v. De Jesus, cited in A.M. No. 2011-04-SC. July 5, 2011).
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