News & Analysis as of

Letters of Intent Contract Formation

Orrick, Herrington & Sutcliffe LLP

Observations on Atlassian’s Proposed Model Term Sheet

Earlier this week, Atlassian published its form acquisition letter of intent under the banner of The M&A Process is Broken: It’s outdated, inefficient and combative.  ...more

Ward and Smith, P.A.

Pre-Closing Due Diligence with Commercial Real Estate Helps Avoid Post-Closing Remorse

Ward and Smith, P.A. on

Your business has taken off, and you've been searching for that perfect 7,500 square foot building on an acre of land close to town, with parking and a view, and you've finally found it. Mission accomplished, right? Not...more

Bowditch & Dewey

Land Court Finds that Texting Can Bind Parties

Bowditch & Dewey on

The Massachusetts Land Court has held that text messages may form a binding contract in connection with the sale of real estate!! While neither punctuation nor colorful texting acronyms can make this decision more noteworthy...more

Dechert LLP

Text on the Dotted Line: A Text Message Can Create a Binding Contract

Dechert LLP on

Here’s another story in the “It never gets easier” file. The Massachusetts Land Court recently decided a case that perhaps we should have all guessed was coming. This is the above the fold headline: Text...more

Burns & Levinson LLP

Beware: Sending A Text Message Can Be Just as Binding as Signing a Document By Hand!

Burns & Levinson LLP on

We have all heard stories about the dangers of social media, whether it be an inappropriate tweet, a regrettable Facebook posting or a misdirected “sexting.” The decision issued by the Massachusetts Land Court in St. John’s...more

McDermott Will & Emery

Deconstructing a Letter of Intent for Business Owners, Part 1

McDermott Will & Emery on

I recently appeared on an episode of the Private Equity FunCast: “The Art (and Science?) of the LOI” to talk deal terms with private equity masters Devin Mathews and Jim Milbery. This well-spent hour got me thinking about...more

Buchalter

Estimates in Letters of Intent Can Come Back to Bite

Buchalter on

With the beginning of the new year, it is important to remember that letters of intent—and landlord generated items delivered pursuant to a letter of intent – have legal consequences, even when the terms of the letter of...more

Sheppard Mullin Richter & Hampton LLP

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

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