Most "Best Efforts" Contracts Do Not Meet Consideration Requirements Because

question 2

True/False

Most "best efforts" contracts do not meet consideration requirements because the promise is a promise to try,but not an absolute promise of performance.

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Definitions:

Negative Bargaining Range

A situation in negotiations where there is no overlap in the acceptable terms between parties, making it difficult to reach an agreement.

Concession Making

The act of yielding or conceding points in a negotiation to reach an agreement.

Original Offer

The initial proposal or bid made by one party in a negotiation.

Opening Stance

The initial position or attitude one adopts at the beginning of a negotiation or debate, often setting the tone for discussions and indicating preliminary expectations or demands.