letter of intent Archives

Jun 28, 2019

Letter Agreements: Risks, Purpose, and What to Include

In the fast-paced construction market, contractors on smaller projects, and even some contractors on bigger projects, might be asked to begin work before entering into a formal written contract. While oral agreements can be binding and enforceable[1], they are not recommended because they leave the substantial possibility that the parties will later disagree over their respective interpretations of the agreement or whether an agreement was reached at all. At the risk of stating the obvious – it always makes sense for construction professionals to put their agreements in writing before any work begins. When a formal contract is not possible,… Read more

Jan 25, 2013

The Eleventh Circuit Answers The Question: When Is a Deal a Deal?

The case law in most states includes a line of cases arising out of failed corporate acquisitions. The typical case goes like this. The parties sign a letter of intent to pursue a merger or acquisition. The letter of intent states that the deal is not binding until the parties sign a definitive agreement. The parties never sign a definitive agreement and the deal is cancelled. A disappointed party claims that, despite the language of the letter of intent, the parties had reached an enforceable deal. In St. Joseph Hosp., Augusta, Georgia, Inc. v. Health Mgmt. Assoc., Inc., Case No…. Read more