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It is becoming more and more commonplace in real estate transactions for parties to use a Letter of Intent before negotiating and drafting a commercial lease. The LOI can serve as a negotiating device that addresses the proposed transaction and that maps where the relationship between the parties is heading. While LOIs can save money and time, without proper understanding, an LOI can create problems and unforeseen consequences due to the inherent shortfalls associated with this negotiating tool.
June 15, 2000 at 12:00 AM
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The original version of this story was published on Law.Com
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