| law |
letter of intent LOI (Black's Law Dictionary – A written statement detailing the preliminary understanding of parties who plan to enter into a contract or some other agreement; a noncommittal writing preliminary to a contract. - A letter of intent is not meant to be binding and does not hinder the parties from bargaining with a third party. Business people typically mean not to be bound by a letter of intent, and courts ordinarily do not enforce one; but courts occasionally find that a commitment has been made. Also termed memorandum of intent; memorandum of understanding; term sheet; commitment letter. алешаBG); memorandum of intent (алешаBG); memorandum of understanding (алешаBG); term sheet (алешаBG); commitment letter (алешаBG) |
