Letter of Intent

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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

Actions Speak Louder Than Words or Partnership by Ambush?: Formation of Partnerships in Texas after ETP v. Enterprise

On March 4, 2014, a Dallas jury awarded Energy Transfer Partners, L.P. (“ETP”) $319 million in damages after finding that Enterprise Products Partners, L.P. (“Enterprise”) had formed a binding partnership with ETP to build a...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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