Purchase Agreement or Letter of Intent: Which is Right for You?
Purchase Agreement or Letter of Intent: Which is Right for You? Quick Answer A letter of intent is a short, usually non-binding document (3-8 pages) that signals buyer interest, locks in price and basic terms, and grants exclusivity during a 60-120 day due diligence period. A purchase agreement is the final, legally binding contract drafted […]
Letter of Intent: What It Means and What to Watch For
Letter of Intent: What It Means and What to Watch For Quick Answer A Letter of Intent is a preliminary written document that signals one party’s commitment to pursue a business deal and outlines basic terms, timing, and scope before a final contract is signed. It clarifies expectations and protects both parties during negotiation without […]