Letters of intent can be used in situations where a group of students wish to organize a specific club or perhaps a new fraternity. In the letter they can state their reasons for taking this action, how many members they expect to have and what they think they are going to accomplish. The letter can also outline the requirements for membership and in many cases the basic rules of behavior that will be expected for continued membership. Students might also write a skillfully prepared letter to the admissions office of the college they wish to attend and include it with the rest of their application package.
D. Asset Identification_The LOI should identify the assets to be bought and sold in the transaction. For example: Assets of ABC Childcare, Inc. and real estate held in the name of XYZ, LLC and used in operations of ABC Childcare, Inc. Said assets and real estate are located at 123 Main Street, Any Town, Any State, 12345. E. The Purchase Price. F. Amount of buyer's good faith deposit and the company responsible for escrowing the deposit.