The Most Important Clause to Include in a Letter of Intent (LOI) Or Purchase Contract. Writing a Purchase Contract or Letter of Intent (LOI) to buy an apartment building or commercial property can be an exciting experience. It can also be a bit intimidating. This is especially true for beginning investors.
Buyer accepts offer and signs it, where offer acceptance is binding depends of the legal jurisdiction. For example English and common law differs slightly from American uniform commercial law on matters of offer acceptance and when performance becomes binding on an offer.