best-efforts contractA 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 failure lies with the obligee. To be enforceable, a best-efforts term must generally set some kind of goal or guideline against which the efforts may be measured. See BEST EFFORTS. [Cases: Contracts 189. C.J.S. Contracts ¡ì¡ì 341¨C342.]
What is the preferred translation of the term best-efforts contract by Chinese lawyers?