Can an agreement to negotiate be a valid contractual obligation?

In this article, Stephen Alexander and Andrew Bridgeford, look at the enforceability of an agreement to negotiate as a matter of both English and Jersey law. Agreements to negotiate in good faith are often included by commercial parties in a variety of contexts, including heads of agreement, clauses for price review in the event of a change in circumstance, and mechanisms for the resolution of disputes before they go to arbitration or litigation.