Is a letter of intent binding?

Answer A letter of intent (LOI) is usually not binding because it is not a contract; it is an agreement or acknowledgment of a future transaction. It is possible for an LOI to have some individual provisi... Read More »

Top Q&A For: Is a letter of intent binding

Letter of Intent Tips?

A letter of intent is used when two parties are preparing to conduct business with each other. The letter spells out basic terms of the deal without proposing a full agreement. A letter of intent i... Read More »

How do I address a letter of intent?

Research the RecipientFind out exactly who the primary recipient of your letter of intent before writing. Such information can be found on college websites, in application packets or a simple phone... Read More »

How to Type a Letter of Intent?

A letter of intent is a type of business letter expressing one's desire to commit to something --- usually a job or college placement. The letter of intent is also similar to a sales letter in that... Read More »

Is a letter of intent a contract?

A letter of intent precedes a binding contract and is a way for the involved parties to sort out major issues before they agree to do business together. Sometimes, an injured party may argue that t... Read More »