Nationwide Emerging Managers LLC v. Northpointe Holdings LLC, No. 441, 2014 (March 18,2015)

This is yet another Supreme Court decision marking the bounds of the covenant  of good faith and fair dealing. The covenant is not to be used to modify the terms of a contract, to add terms the parties chose to not include or to provide a remedy that the parties never intended would apply in the event of a breach. While Delaware courts try to reach a “fair” result, that will not warrant letting a party alter what it bargained for after the fact.