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Is a Letter of Intent Really Necessary?

By Blog, Business Law

Is a letter of intent (aka memorandum of understanding, term sheet, summary of principal terms, or heads of agreement – all referred to as a “LOI”) for a sale or acquisition of a business, or other M&A transaction, worth the paper it’s written on? Why spend time and money on negotiating and drafting a LOI that is, for the most part non-binding?

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