Letter of Intent

News & Analysis as of

Letters of Intent: What Do They Really Do?

A construction project usually contains a web of contractual relationships, such as between owner-contractor, contractor-subcontractor, subcontractor-supplier, owner-architect, architect-engineer, and so forth. To make things...more

Real Estate: An Introduction to Leasing For Start-Ups

Now that you have decided to rent “real” space and pay rent to a landlord in an office building, what are the basic terms you need to know about? Whether you are doing “desk sharing” or a more formal lease, focus on five...more

(US) Is your Letter of Intent binding in Maryland? It might be.

You may want to use caution in drafting a Letter of Intent because a court may find it binding even if that was not your intent. On January 27, 2015, the Court of Appeals of Maryland entered a finding that a letter of intent...more

Stock and Asset Sales: Preliminary Agreements

Prior posts discussed the basic advantages and disadvantages of structuring a sale of a business as a stock sale or an asset sale, as well as the initial considerations in agreeing to structure a sale as an asset purchase. ...more

Probationary Medicaid RCOs – How Do Physicians Respond Without Subjecting Themselves to Potential Criminal And Civil Liability?

There are now eleven organizations across the State of Alabama that have been granted probationary certification as Medicaid Regional Care Organizations or “RCO”s. Physicians have begun receiving notices from some of these...more

When To Use Letters of Intent In Buying a Restaurant

Letters of intent can be confusing. Are they contracts? Are they binding? When should they be used? It’s important to know when to use letters of intent because they can be valuable tools that can save time and money. We...more

ev3, Inc. v. Lesh, C.A. No. 515, 2013 (Del. Sept. 30, 2014)

In this en banc Memorandum Opinion, the Supreme Court reversed the Superior Court’s denial of the defendant-below’s motion for a new trial following a jury verdict and remanded the case for a new trial. The Supreme Court...more

Special Needs Trusts: Writing a Letter of Intent

A special needs trust is vital if you are the parent or caretaker of a child (or adult child) with mental or physical disabilities. A trust can make certain that your child is cared for properly, that they have enough...more

Miami’s Future Archipelago of Floating Houses

A team of Dutch developers would like to bring a little bit of Atlantis to Miami. Earlier this month, Dutch Docklands submitted a letter of intent and request for zoning variance to the City of North Miami Beach in order to...more

Mainebiz Real Estate Insider – My “Non-Binding” Letter of Intent is a Contract?!?

Letters of intent (LOIs) can be valuable, but they also present risks. Those risks arise in part because LOIs often are drafted in a manner that places them in a legal gray area. They usually are intended to be non-binding...more

When Is a Non-Binding Term Sheet or Letter of Intent Enforced as a Binding Contract?

In almost all corporate transactions, the first piece of written documentation the parties exchange and execute (after a non-disclosure agreement) is a letter of intent or term sheet (“LOI”), which is intended to summarize...more

Mississippi CON Report - August 2013

In this Report: I. July 2013 – Mississippi Certificate of Need Meeting II. Certificate of Need Program Report – Filings/Reports Since June 2013 CON Meeting - A. Letters of Intent to Change Ownership...more

When a Non-binding Term Sheet Becomes Binding

Tire-kickers, prevaricators and those who might otherwise agree on a term sheet with little intention of closing the deal beware: A “non-binding” term sheet is sometimes binding....more

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