Honesty is a relative concept. It tends to depend on who you are dealing with and the level of respect that you have for the person.
In the film "The Wild Bunch" Ernest Borgnine and William Holden are arguing over a past associate who has teamed up with the railroad company to track them down. Borgnine is revolted by the actions of the man while Holden counters "He gave his word to the railroad". Borgnine scoffs and replies "its not your word that counts, but who you give it to!"