Definition of Best endeavors:
The legal interpretation of a best endeavors obligation is that it places upon the party the onus of making every reasonable effort to achieve the desired objective. In contrast, the reasonable endeavors obligation may require the party to take no more than a single course of action before considering the task unfulfillable.
Alternative term for best efforts.
Best endeavors is a phrase commonly found in commercial contracts that places an obligation on the identified party to use all efforts necessary to fulfill the terms set out. A best endeavors policy places a party under a stricter obligation than a reasonable endeavors obligation. It is equivalent to best efforts, a term widely used in securities markets and preferred in most commercial contracts signed in the United States.
How to use Best endeavors in a sentence?
- Best efforts is generally preferred to best endeavors in the United States, but the terms are equivalent.
- Best endeavors are limited by the right of a party in a contract to avoid actions that are self-damaging.
- Best endeavors is a legal term that represents an obligation on a party in a contract to take all the steps in their power to fulfil the terms of the agreement.
Meaning of Best endeavors & Best endeavors Definition