letter of intent

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letter of intent

a letter indicating that the writer has the serious intention of doing something, such as signing a contract in the circumstances specified. It does not constitute either a promise or a contract.
References in periodicals archive ?
Simply put, because of several instances where unusual circumstances made the courts look past an express statement of nonbinding intent, parties using letters of intent must be concerned that any partial performance, contemporaneous statements, or other actions may be construed to overcome explicitly stated nonbinding intentions.
Under the two letters of intent with Sahara, Landmark has the option to acquire an interest in the permits, provided however that no interest will vest in, or be transferred to Landmark, until Landmark completes all of its earn-in obligations, and all necessary regulatory requirements, including, in particular, ANPM approval, have been satisfied.
MONTREAL -- Gastem (TSX VENTURE:GMR) is pleased to announce the signing of two Letters of Intent proposing an exploration partnership with Junex (TSX VENTURE:JNX) and Petrolia (TSX VENTURE:PEA).
As with the other letters of intent for the El Capitan property, under the terms of the letter of intent with AFC, we would receive the capital necessary to begin the operation without the need for further financing should we be successful in executing a definitive agreement," Mr.
OTCBB:MDIR), a developer and marketer of patented needle-free jet injectors for human and animal inoculation, today announced that its MIT Canada subsidiary has received a large order from its Japanese distributor and signed several Letters of Intent with 2 major distributors in Thailand.