letter of intent

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letter of intent

Formal written notice given by one party to another of a commitment to pursue an action, e.g., of a plan to bring suit against another party or to take on an assignment on behalf of that party.
References in periodicals archive ?
Letters of intent can benefit a transaction in a number of ways.
The promoter will sign letters of intent or proof of funds and eventually sign a contract with the intermediary.
Many of these court decisions and the body of law which they have created provide proof of the axiom that "bad facts make bad law." Simply put, because of several instances where unusual circumstances made the courts look past an express statement of nonbinding intent, parties using letters of intent must be concerned that any partial performance, contemporaneous statements, or other actions may be construed to overcome explicitly stated nonbinding intentions.
In addition to snaring letters of intent from the four webs and ESPN, Smart has received letters of intent from a number of ad agencies and advertisers.
In this case, the parties' relationship was governed by a series of letters of intent, the latest of which limited the contractor's (Mowlem) entitlement to payment to the sum of pounds 10m for work provided up to a given date.
NORDIC BUSINESS REPORT-27 April 2005-Columbus IT Partner A/S signs letters of intent for new acquisitions(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com
The deadline for letters of intent is 6 March 2002, with final applications due 12 November 2002.
The broker found an acceptable space at 1500 Broadway and the tenants executed letters of intent to lease the space.