Letters Of Intent. A letter of intent (LOI or LoI, and sometimes capitalized as Letter of Intent in legal writing, but only when referring to a specific document under discussion) is a document outlining the understanding between two or more parties which understanding they intend to formalize in a legally binding. It is a declaration of the intentions of parties entering.
This can also be drafted as an agreement between two businesses (heads of terms).
LOIs are useful when two parties are initially brought together to hammer out the broad strokes of a deal before the finer points of a transaction are resolved.
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40+ Letter of Intent Templates & Samples [for Job, School ...
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40+ Letter of Intent Templates & Samples [for Job, School ...
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A Letter of Intent is a document which contains highlights about the agreements between two or more parties before the legal agreement is finalized. A letter of intent is a document expressing an intention to enter into a contract at a future date but creates no contractual relationship until that future contract has been entered into. These are more nuanced in temporality and significance.