Mini-Maxi is a method of selling securities in which the broker must initially sell a specific minimum quantity of securities and then sell the remaining amount to the best of their ability. This approach presents a challenge for the broker to maximize the sale of securities while ensuring that at least a certain amount is sold.
The mini-maxi underwriting arrangement is a securities transaction where a broker must sell a minimum number of securities on an all-or-none basis and the remaining securities on a best-efforts basis. For instance, if a company plans to issue 100,000 shares of stock, the underwriter agrees to sell at least 50,000 shares on an all-or-none basis, meaning they will only sell if they can sell all 50,000 shares. The remaining 50,000 shares will be sold on a best-efforts basis, where the underwriter will make their best attempt to sell them, but they are not obligated to sell all of them. This example demonstrates the mini-maxi underwriting arrangement, which mandates the sale of a minimum number of shares on an all-or-none basis and the rest on a best-efforts basis.
Mini-Maxi is a legal principle used in contract law to determine the maximum and minimum damages that can be awarded in case of a breach of contract.
Mini-Maxi is calculated by determining the minimum amount of damages that would compensate the non-breaching party for their losses and the maximum amount that would not be considered excessive or punitive.
Yes, Mini-Maxi can be applied to all types of contracts, including both written and oral agreements.
No, Mini-Maxi is not mandatory. It is a principle that can be used by the court to determine damages, but it is not a requirement.
Yes, the parties can modify the Mini-Maxi principle by including specific provisions in their contract that define the limits of damages in case of a breach.
When determining Mini-Maxi damages, the court considers factors such as the nature of the breach, the extent of the harm caused, the foreseeability of the damages, and any mitigating circumstances.
No, Mini-Maxi is primarily used in contract law and may not be applicable in cases of personal injury or tort claims, where different principles and calculations are used to determine damages.
Yes, Mini-Maxi can be used in international contracts, but its application may vary depending on the jurisdiction and the governing law of the contract.
Yes, Mini-Maxi can be challenged or appealed if one of the parties believes that the damages awarded are not within the acceptable range determined by the principle.
Yes, there are alternative methods to determine damages, such as the “expectation damages” approach, which aims to put the non-breaching party in the position they would have been in if the contract had been fully performed. However, the use of Mini-Maxi is common and widely accepted in contract law.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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