Best Efforts Clauses

News & Analysis as of

Are ‘Best Efforts’ Provisions Enforceable in Maritime Contracts?

Parties to maritime contracts frequently include requirements that one or the other party or both of them will use their “best efforts” to perform duties described in the contract. But they also frequently give little thought...more

Court Of Chancery Limits Implied Covenant Claims

When a contract spells out that its obligations are to be carried out in a “commercially reasonable best efforts” manner, it will be harder to argue there is any gap that the covenant of good faith and fair dealing may fill....more

Inside M&A - Summer 2014

“Commercially Reasonable Efforts” Diligence Obligations in Life Science M&A" - More than 80 percent of all deals in the pharmaceutical, medical device and biotech industries include an earnout structure that provides...more

The M&A Word of the Day® from the Book of Jargon® – Global Mergers & Acquisitions Is Best Efforts [Video]

Latham & Watkins partner David Walker explains the M&A term best efforts, a common provision in an acquisition agreement that describes how hard a party needs to work to make good on its commitments. For additional...more

Best Efforts or Reasonable Efforts? — How Legal Efforts Standards Can Affect You

It’s very popular for people to talk about giving “110%” these days. Suddenly, giving 100% effort seems like slacking. And what about just partial attempts, like 75%? Although they are contract provisions that are often...more

How Much "Effort" is Enough???

Best Efforts…Reasonable Best Efforts… Diligent Efforts….Good Faith Efforts….Commercially Reasonable Efforts….terms we have all seen in contracts and other agreements used to establish standards of performance for situations...more

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