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In most cases, LOIs are not legally binding although many could contain specific provisions that are binding, such as covenants to negotiate in good faith, no_shop or standstill provisions (exclusive rights to negotiate, often coupled with earnest money deposits), and Non_Disclosure Agreements (NDA).

Ziad K. Abdelnour, President & CEO Blackhawk Partners, Inc, the New York_based advisory firm on such matters, puts it this way: "Giving a Letter of Intent only means 'Yes I'm intent to buy the goods but I can change my mind anytime.' A letter of Intent is not a binding contract. [Hence] The Letter of Intent is a total waste of time on a worthless piece of paper."

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013 Letter Ofnt Template Teaching Position Valid Graduate School

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