In December 2024 the English high court held that a clause requiring the parties to use “reasonable endeavours” to agree a binding process for an expert determination to value and divide disputed businesses was an unenforceable agreement to agree.
The disputing parties entered into a settlement agreement to resolve litigation which was ongoing at the
The court was called upon to decide whether the defendant property developer had used ‘reasonable endeavours’ to achieve ‘as soon as reasonably practicable’ the satisfaction of contractual conditions, upon the non-fulfilment of which the developer became obliged to make a payment of £1.4 million.
The term ‘reasonable endeavours’ may require a party to take only