The Letter Of Intent – There Is More To It Than The Price!

The sale of a business typically begins with a buyer and seller, either directly, or through agents or
lawyers, having a discussion in general terms about what is being purchased and how much will be paid.
Typically, if there is a desire to move forward, these general terms are set out in a form of letter called a
letter of intent (LOI) that is drafted by the buyer (or his agent or lawyer) and proposes that if the seller is
in agreement with the stated general terms, a due diligence process will begin that may culminate in the
execution of a comprehensive agreement of purchase and sale (APS). LOIs are usually drafted so that
neither the buyer nor the seller is bound to complete the deal unless an APS is signed… More details

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