Definitions (3)
1. Law: Assurance that while a certain result is not guaranteed, good-faith efforts will be made to achieve the best result in the circumstances.
2. Contracts: Very high standard of execution, failure to achieve which may be excusable under force-majeure clause or on demonstration that failure occurred despite one's dedicated and sustained efforts. Also called best endeavors.
3. Investing: Undertaking by a marketing agent (usually an investment bank) to do the very best in selling a security issue to the public, on pro-rata commission basis, without committing or specifying any quantity. Also called best efforts offering.
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