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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.
A good deal of confusion has been caused in South African law by the expression warranty, which has a variety of technical meanings in English law. In South Africa, the word warranty is non-technical and simply means "term". Unfortunately, the use of the words condition and warranty in the English-law sense is relatively common in South Africa ...
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 tender announcement from the Indonesian Ministry of Finance. An invitation to tender (ITT, also known as a call for bids [1] or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activity in works, supply, or service contracts, often from companies who have been ...
If evidence of intent is found, the agreement gives rise to legal obligations whereby any party in breach may be sued. In English law, there are two judicial devices to help a court to decide whether there is intent: the earlier objective test, and the later rebuttable presumption. Both tests are used together in combination.
Roman-Dutch law adopted this position, and it is still in force in South Africa. The modern contract of lease is therefore the Roman locatio conductio rei, the rental or hire of a thing. Contrary to Roman law, however, is that in South Africa prevails the Roman-Dutch doctrine of huur gaat voor koop (“lease trumps sale”).
For example, the Sale of Goods Act 1979 s15A provides that terms as to title, description, quality and sample are generally conditions. [77] The United Kingdom has also developed the concept of an "intermediate term" (also called innominate terms), first established in Hong Kong Fir Shipping Co Ltd v Kawasaki Kisen Kaisha Ltd [1962].
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