| Letter Of Intent |
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LOIs resemble written Contract s, but are usually not binding upon the parties in their entirety. Many LOIs, however, contain provisions that are binding, such as Non-disclosure Agreement s or Covenant s to negotiate in Good Faith . An LOI may also be interpreted as binding the parties if it too closely resembles a formal contract. The purposes of an LOI may be:
An LOI may also be referred to as a '' Memorandum Of Understanding '' (MOU), '' Term Sheet '' or '' Discussion Sheet ''. |
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