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Term sheet. A term sheet is a bullet-point document outlining the material terms and conditions of a potential business agreement, establishing the basis for future negotiations between a seller and buyer. It is usually the first documented evidence of a possible acquisition. [1] It may be either binding or non-binding.
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. Merger and acquisition agreements, [1] joint venture agreements ...
The letters of last resort are four identically worded handwritten letters from the prime minister of the United Kingdom to the commanding officers of the four British ballistic missile submarines. [A] They contain orders on what action to take if an enemy nuclear strike has both destroyed the British government and has also killed or otherwise ...
Letter of comfort (contract law) 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 ...
Contract law. Offer and acceptance are generally recognized as essential requirements for the formation of a contract (together with other requirements such as consideration and legal capacity ). Analysis of their operation is a traditional approach in contract law. This classical approach to contract formation has been modified by developments ...
Richard Nixon's resignation letter to his Secretary of State, Henry Kissinger, August 9, 1974. A letter of resignation is written to announce the author's intent to leave a position currently held, such as an office, employment or commission.