Terms of the offer
A letter of intent , also known as LOI, is a preliminary contract containing key terms of a prospective business deal between two or more parties. It is common in business transactions, for example, the sale, purchase, merger, or formation of a joint venture. In conclusion, the full form of LOI stands for “Letter of Intent.” It is a formal document used in various scenarios to express intent or interest in a particular transaction, agreement, or partnership. A Letter of Intent (LOI) is a short non-binding contract that precedes a binding agreement, such as a share purchase agreement or asset purchase agreement (definitive agreements). There are some provisions, however, that are binding such as non-disclosure, exclusivity, and governing law. A letter of intent (LOI) is a document declaring the preliminary commitment of one party to do business with another. An LOI outlines the chief terms of a prospective deal and is commonly used in...
