How Delaware Courts Approach Effort Commitments

By Henry Alderfer (January 16, 2018, 3:21 PM EST) -- Many commercial contracts use some variation of "efforts" in qualifying a party's obligation to perform an obligation. For instance, a contract may require a party to use its "best efforts" to satisfy various closing conditions, use "commercially reasonable efforts" to secure various regulatory approvals or exercise "reasonable best efforts" in entering into an agreement with a third party....

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