Definitions for letter of intent
let·ter of in·tent

Princeton's WordNetRate this definition:5.0 / 1 vote

1. letter of intentnoun

   any letter expressing an intention to take (or forgo) some action

WikipediaRate this definition:0.0 / 0 votes

1. Letter of intent

   A letter of intent (LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a legally binding agreement. The concept is similar to a heads of agreement, term sheet or memorandum of understanding. Merger and acquisition agreements, joint venture agreements, real property lease agreements and several other categories of agreements often make use of a letter of intent. The capitalized form Letter of Intent may be used in legal writing, but only when referring to a specific document under discussion. LOIs resemble short, written contracts, often in tabular form. They are not binding on the parties in their entirety. Many LOIs, however, contain provisions that are binding, such as those governing non-disclosure, governing law, exclusivity or a covenant to negotiate in good faith. A LOI may sometimes be interpreted by a court of law as binding the parties to it if it too-closely resembles a formal contract and does not contain a clear disclaimer.A letter of intent may be presented by one party to another party and subsequently negotiated before execution (or signature). If carefully negotiated, a LOI may serve to protect both parties to a transaction. For example, a seller of a business may incorporate what is known as a non-solicitation provision, which would restrict the buyer's ability to hire an employee of the seller's business should the two parties not be able to close the transaction. On the other hand, a LOI may protect the buyer of a business by expressly conditioning its obligation to complete the transaction if it is unable to secure financing for the transaction.

ChatGPTRate this definition:0.0 / 0 votes

1. letter of intent

   A letter of intent is a written document that outlines a preliminary agreement between two parties, expressing shared intent for a future transaction or collaboration. It is not legally binding but indicates a serious commitment. This document is usually used in the context of business transactions, such as mergers, acquisitions, leases, or joint ventures. It typically identifies the key details of the potential agreement, such as the parties involved, the main terms, and the time period for negotiation or finalization.

WikidataRate this definition:0.0 / 0 votes

1. Letter of intent

   A letter of intent is a document outlining an agreement between two or more parties before the agreement is finalized. The concept is similar to a heads of agreement. Such agreements may be Asset Purchase Agreements, Share Purchase Agreements, Joint-Venture Agreements and overall all Agreements which aim at closing a financially large deal. LOIs resemble written contracts, but are usually not binding on the parties in their entirety. Many LOIs, however, contain provisions that are binding, such as non-disclosure agreements, a covenant to negotiate in good faith, or a "stand-still" or "no-shop" provision promising exclusive rights to negotiate. A LOI may sometimes be interpreted by a court of law as binding the parties to it, if it too-closely resembles a formal contract. The most common purposes of an LOI are: ⁕To clarify the key points of a complex transaction for the convenience of the parties ⁕To declare officially that the parties are currently negotiating, as in a merger or joint venture proposal ⁕To provide safeguards in case a deal collapses during negotiation.

Matched Categories

1. • Letter

How to pronounce letter of intent?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say letter of intent in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of letter of intent in Chaldean Numerology is: 8

2. Pythagorean Numerology

   The numerical value of letter of intent in Pythagorean Numerology is: 3

Examples of letter of intent in a Sentence

1. Christian Adel Mirza:

   What they are signing is a letter of intent, though not a contract, which contains both their rights as well as their duties, they have to learn Spanish, and they have to retrain because they were captured young, before they could develop a career or a profession.

2. Rudy Giuliani:

   It was a real estate project, there was a letter of intent to go forward, but no one signed it.

3. Alex Azar:

   When I was there I actually signed a letter of intent with minister of health Juan Pablo Uribe for the United States to be providing HIV antiretrovirals to Colombia for the use with Venezuelan refugees.

4. Rudy Giuliani:

   My recent statements about discussions during the 2016 campaign between Michael Cohen and then-candidate Donald Trump about a potential Trump Moscow' project' were hypothetical and not based on conversations I had with The President, my comments did not represent the actual timing or circumstances of any such discussions. The point is that the proposal was in the earliest stage and did not advance beyond a free non-binding letter of intent.

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=letter of intent
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Letter_of_Intent
3. ^ ChatGPT
   https://chat.openai.com
4. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=letter of intent