It is a good idea; but its a problematic idea that could only work really with Promotions and more umph put into Reputation through Promotion - and that would be dreadfully hard to put in place whether it would work or not.
A Knight is sworn to Honour. His heart knows only Virtue. His blade defends the helpless. His might upholds the Weak. His word speaks only truth. His wrath undoes the Wicked.