Always use a letter of intent to present your preliminary offer to a seller. This will save you writing time, legal fees, and will be easily read and understood by the seller and any other interested parties who must be made aware of your intention to purchase the subject property.
Contract _ Terms of Business, Battle of the Forms and Letters of Intent. The buyer (a company that made control systems for vehicles) placed orders with the seller (a company that supplied pedal sensors). Both parties traded on their standard terms of business, the key difference between the two being, as it is usual to expect, the extent of the liability, if something went wrong under the contract. The buyer's conditions sought to impose unlimited liability on the seller for certain breaches, while the seller's conditions purported to exclude any liability for consequential loss or damage and restricted its business liability to repair.