Best-Efforts Contract Law and Legal Definition
Best-efforts contract is a contract where a party undertakes to use best efforts to fulfill the promises made instead of acheiving a specific result. This is a contract in which the adequacy of a party's performance is measured by his/her ability to fulfill the specified obligations. Even though the obligor must use best efforts, the risk of failure lies with the obligee. In order to be enforceable, a best-efforts contract must set some guideline against which the efforts may be measured.