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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.
An indemnity is distinct from a warranty in that: [8] An indemnity guarantees compensation equal to the amount of loss subject to the indemnity, while a warranty only guarantees compensation for the reduction in value of the acquired asset due to the warranted fact being untrue (and the beneficiary must prove such diminution in value).
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 .
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the merits or demerits of any case brought to or threatened with litigation. This letter is not intended to be a complete recitation of the facts or circumstanc es in connection with this matter, nor shall anything be prejudicial to, or in limitation of, any rights, remedies, claims or defenses, all of which are hereby expressly reserved.
For example, Boston's average snowfall is 14.3 inches in January and 14.4 inches in February. New York City has averaged 8.8 inches in January and 10.1 Inches in February.
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