Effective and Efficient Letters of Intent

The rubric Letter of Intent is oft-used, but frequently constitutes a misnomer with troubling consequences for counsel and client alike. These consequences sometimes arise because there is confusion both in the legal and business communities about what the term really means; i.e. that a true Letter of Intent's enforceability and legal effect stand between that of a pure contract and a mere Expression of Intent, which is unenforceable.

In this program, Morris Nunes begins by clarifying the distinctions between Contracts, Letters of Intent and Expressions of Intent and explains the circumstances when each is most appropriate. Next, Mr. Nunes details the essential elements to form a Letter of Intent as distinct from the other forms. The program concludes with a discussion of how attorneys can avoid misinterpretation of these related agreements, to ensure effective and efficient application of each.

Learning Objectives:

I.    Recognize that the term Letter of Intent can be misleading and must be used with care

II.   Distinguish between Contracts, Letters of Intent and Expressions of Intent

III.  Explain when and when not to use a Letter of Intent

IV.  Understand how to draft a proper Letter of Intent when a Letter of Intent is desired

V.   Prevent a Letter of Intent from being misinterpreted as a Contract