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Purchase Agreement Terms and Conditions: Satisfaction Contracts and Best Effort Terms

 

Are best effort terms what’s best for your contract?

Parties are allowed to condition performance on the satisfaction of one or the other. To do so, spell it out in the contract clearly. Some courts add an element of reasonableness for certain kinds of satisfaction contracts. If the party agrees to abide by a contract measured by the other party’s satisfaction (some contracts are inherently satisfaction contracts), performance is likely measured by subjective factors, tempered only by honesty. For the party who is performing, these sorts of contracts should be avoided whenever possible. This white paper reviews satisfaction contracts and best effort terms and discusses delivery and acceptance terms and contract termination provisions.

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Purchase Agreement Terms and Conditions: Satisfaction Contracts and Best Effort Terms

Agenda

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Purchase Agreement Terms and Conditions: Satisfaction Contracts and Best Effort Terms

Faculty

Timothy Murray

Timothy Murray

Murray, Hogue & Lannis

  • Partner in the law firm Murray, Hogue & Lannis, Pittsburgh, PA
  • Practice emphasizes contract law
  • Conducts regular seminars on the law of contracts
  • Author volume 1 of Corbin on Contracts (revised edition, 2018), Co-author of Corbin on Contracts Desk Edition and the biannual supplements to Corbin on Contracts
  • Member of the Pennsylvania Bar
  • J.D. degree, University of Pittsburgh
  • Can be contacted at [email protected]
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Purchase Agreement Terms and Conditions: Satisfaction Contracts and Best Effort Terms

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