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Although nonbinding, the letter shows a seller that a buyer has an interest in setting up terms for purchasing the business, ...
July 2009 Hadef & Partners' M&A team discuss the various approaches to drafting letters of intent including the ways in which such can in fact impede or endanger the deal process if not handled ...
Both a letter of intent and a memorandum of understanding establish business agreements. Neither term has a strict definition, so they are sometimes used interchangeably.