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Parties contemplating a transaction frequently use letters of intent and other types of preliminary documents to outline the key terms before executing a definitive agreement. While LOIs are often held to be unenforceable, they can sometimes be fully binding agreements. This article discusses the extent to which parties can be bound by LOIs and offers drafting suggestions for parties seeking to avoid being unwittingly bound.
December 11, 2001 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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