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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 .
A letter of comfort, sometimes called a "letter of intent", is a communication from a party to a contract to the other party that indicates an initial willingness to enter into a contractual obligation absent the elements of a legally enforceable contract. The objective is to create a morally binding but not legally binding assurance.
It is less formal than a note (also called a letter of protest) but more formal than an aide-mémoire. A note verbale can also be referred to as a third person note (TPN). Notes verbales are written in the third person and printed on official letterhead; they are typically sealed with an embosser or, in some cases, a stamp.
A letter of credence (French: Lettre de créance) is a formal diplomatic letter that designates a diplomat as ambassador to another sovereign state. Commonly known as diplomatic credentials , the letter is addressed from one head of state to another, asking them to give credence ( French : créance ) to the ambassador's claim of speaking for ...
If there is any variation, even on an unimportant point, between the offer and the terms of its acceptance, there is no contract. In the United States, the Uniform Commercial Code provides for acceptance even when terms of the acceptance differ from terms of the offer. This might occur, for example, when a buyer's "Terms and Conditions" differ ...
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A letter was posted back on the Monday evening, accepting the resignation. On the Tuesday morning, Cantu hand-delivered a letter withdrawing her resignation, but the superintendent of schools advised her that her resignation had already been accepted, by virtue of an acceptance letter being posted to the McAllen address. Cantu argued that ...
The Carbolic Smoke Ball offer. In English contract law, an agreement establishes the first stage in the existence of a contract. The three main elements of contractual formation are whether there is (1) offer and acceptance (agreement) (2) consideration (3) an intention to be legally bound.