How is Best of 5 defined in a legal contract?
- Best of 5 means players will compete in up to five sets, and a team is declared the winner as soon as they win three sets. Set order and structure are as follows: the first three sets each consist of up to three games, with a deciding game played if the score is 1:1 after two games. The fourth and fifth sets are only played if no team has yet won three sets, and follow the same three-game structure. Seen in 2 SEC filings.
- Best of 5 means a competition format in which players play up to five sets, with the team declared the winner once they have won three sets. Each set consists of two games, and a third game is played if the initial score each set is tied at 1:1. The fourth and fifth sets are only played if no team has won three sets by the end of the third set. Seen in 1 SEC filing.
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of best of 5' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Best of 5 means a competition format wherein a team is declared as the winner upon winning three out of five sets.
Relevant Contract Types
Relevant Circumstances
- Sports tournaments where winning is defined by winning majority of a series of games.
- Agreements stipulating compensation based on tournament performance.
- Endorsement contracts where payouts depend on tournament outcomes.
Relevant Sectors
Genie Definition 2
- Best of 5 means playing up to five sets, where the team claiming three sets first wins.
Relevant Contract Types
Relevant Circumstances
- Conflict resolution scenarios stipulating a best-of-five arbitration clause.
- Events involving games or matches with a best-of-five format.
Relevant Sectors
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Best of 5 means a competition format wherein a team is declared as the winner upon winning three out of five sets
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