Friday 5 December 2014

Answer to quiz on commercial contracts

Hi everyone, sorry for the delay but Christmas time is super busy ! Here is the answer to the quiz: 

All reasonable endeavours (collocation): Parties to a commercial contract should enter into the contract in good faith. This phrase states that a party (or parties) will do their best where reasonably possible. The phrase is used to make sure that a party fulfils a duty or obligation, or at least to use a reasonable amount of effort to fulfil them. This phrase is sometimes subject to negotiation as ‘reasonable’ is not a strong word in this situation. For instance, if you are asking another party to do something under the contract, then you would argue for the phrase ‘all endeavours’ or ‘all best endeavours’. This is much stronger. However, if you are the party who must do something under the contract then you would argue that you should use ‘all reasonable endeavours’ as this obligation is easier to fulfil. Associated Words: All Endeavours (collocation), All Best Endeavours (collocation), Duties and Obligations (collocation), Enter into a Contract (collocation), To Fulfil (verb), Good Faith (noun), Negotiation (noun), Party (noun)

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http://www.amazon.com/Michael-Howard/e/B00GMS03VA/ref=sr_ntt_srch_lnk_1?qid=1416151307&sr=8-1

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