What is a best-efforts contract?
What will be an ideal response?
A best-efforts contract is a contract that contains a clause that requires one or both of the parties to use their best efforts to achieve the objective of the contract. The courts generally have held that the imposition of the best-efforts duty provides sufficient consideration to make a contract enforceable. A party can sue another company for failing to use its promised best efforts.
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Which of the following is true of the remedy of avoidance used by an injured party of a contract?
A. It can be used without notification to the injuring party. B. It revokes all the provisions governing the rights and duties of the parties. C. It cancels out any provisions in the contract concerning the settlement of disputes, once used. D. It can be used in case a fundamental breach of the contract has been observed.
Which of the following is a similarity between flowcharts and maps??
A) ?They both incorporate area charts. B) ?They both feature geographical relationships. C) ?They are both easier to understand than written explanations. D) ?They are both used to describe organizational structure.