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Letters of Intent in Business Transactions


Letters of intent frame the material terms of business and commercial transactions. They outline with considerable detail the substantive terms of the underlying agreement – price, reps and warranties, closing conditions, etc. They also provide a process by which a definitive underlying agreement will be finalized. But they are not, generally, intended to be definitive agreements themselves; not enforceable, only a substantial starting point. There is, however, a certain point at which the detail in these letters becomes so extensive that they become enforceable.

This program provides a practical guide to the most important substantive and process aspects of letters of intent, their uses and traps, including unexpected enforceability.

  • Drafting effective letters of intent in transactions
  • Purposes of letters, timing, relationship to diligence, exclusivity
  • Substantive terms v. process terms
  • Indemnity, hold back and limitation of liability provisions
  • Termination of a letter and survival of certain provisions
  • Understanding the point at which letters of intent may become enforceable

DETAILS
Phone/Audio
Friday, October 2, 2020
1:00–2:00 PM

SPEAKERS

  • Stephanie Molyneaux, Venable LLP, Washington, D.C.

PRODUCED
October 2, 2020

APPROVED CREDIT
North Carolina: 1.00 MCLE/CPE Hours

PROGRAM PRICING
See pricing below.