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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 .
The stronger version, the letter of comfort, indicates the parent organization's intention to support the subsidiary. [5] In the United States, there is a general presumption against the enforceability of letters of comfort. However, depending on the wording of the document, there may be legal liability under the rule of reliance. [6]
Blue chip athletes often end recruiting with a hat selection ceremony in which they make an oral commitment, which generally leads to the formal signing of a National Letter of Intent. National Letters of Intent may only be signed by prospective student-athletes who will be entering a four-year institution for the first time in the academic ...
For decades, players have signed letters of intent during signing ceremonies at high schools across the country on National Signing Day. The NLI had been standard since 1964 and viewed as the ...
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.
Thanksgiving can be a beautiful celebration, but with all the travel, guest accommodation, cooking, cleaning, drinking, and cleaning again, it can be easy to feel kitchen burnout in the following ...