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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.
A set of heads of agreement, heads of terms, or letter of intent is a non-binding document outlining the main issues relevant to a tentative sale, partnership, or other agreement. [ 1 ] A heads of agreement document will only be enforceable when it is adopted into a parent contract and is subsequently agreed upon, unless otherwise stated.
The details of the official offer were made public on Wednesday, when OpenAI’s lawyers submitted the four-page letter of intent in a court filing on Wednesday, revealing that Musk, who is the ...
ArcelorMittal (MT) gets backing from Belgium and Flanders governments for a Euro 1.1-billion DRI plant project in Gent, which will be a significant effort toward achieving carbon neutrality by 2050.
It usually implies following an order in such a way that ignores or otherwise undermines the order's intent, but follows it to the letter. [ 1 ] [ 2 ] It can also describe a willful act of regulatory interference, for example when a corporation releases a compliant but inferior version of a product in response to new legislation.
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