A contract in which a party undertakes to use best efforts to fulfill the promises made rather than to achieve a specific result; a contract in which the adequacy of a party’s performance is measured by the party’s ability to fulfill the specified obligations. • Although the obligor must use best efforts, the risk of […]
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Underwriting in which an investment banker agrees to direct, but not guarantee, the public sale of the issuer’s securities. • The underwriter, or selling group, sells the securities as agent for the issuer, and any unsold securities are never issued.
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best efforts. Diligent attempts to carry out an obligation (the contractor must use best efforts to complete its work within the stated time). • As a standard, a best-efforts obligation is stronger than a good-faith obligation. Best efforts are measured by the measures that a reasonable person in the same circumstances and of the same
best efforts contract 最大努力合同 指一方当事人根据法律而默示保证其将尽最大努力完成承诺的协议。例如，某一制造商将其产品的专卖权授予一零售商时，即推定该零售商保证尽其最大努力促销产品。
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mini-maxi 极小化极大；极大(中的)极小 证券承销术语，指同证券经纪人订立的承销协议，要求经纪人按足额执行〔all-or-none〕方式销售最低数量的证券，余数则按尽力推销〔best efforts〕方式销售。
Hydraflow test. A principle for deciding when an inadvertent disclosure of a privileged document is a waiver of the attorney–client privilege, whereby the court considers the reasonableness of the precautions taken to prevent the inadvertent disclosure, the number of disclosures involved, the extent of the disclosure, the promptness of any efforts to remedy the disclosure,
mini-maxi, n. An underwriting arrangement for a securities transaction, whereby a broker is required to sell the minimum number of securities on an all-or-none basis and the balance on a best-efforts basis. See UNDERWRITING(2).
underwriting, n. 1. The act of assuming a risk by insuring it; the insurance of life or property. See INSURANCE. [Cases: Insurance 1515.] 2. The act of agreeing to buy all or part of a new issue of securities to be offered for public sale. [Cases: Securities Regulation 11.18, 60.31. C.J.S. Securities Regulation §§ 69,