best efforts

If you’ve ever negotiated a contract, you know what I’m talking about. Most of the important deal terms have been agreed to. Both parties—as well as their lawyers—are eager to wrap up negotiations. But there’s a sticking point that won’t be a big deal until months, or even years, down the road. So why not put off making a tough call and agree to make the decision later?

Denil v. deBoer, Inc.

The U.S. Seventh Circuit Court of Appeals decided a case earlier this month where the parties decided to put off making difficult choices in contract negotiations. [click to continue…]

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