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023 Draft Of Letter Intent Job Format In Application

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However, during the same period, on January 6, another oil company, Texaco, came into the picture as it publicly announced that Texaco and Getty Oil would merge. Pennzoil protested the proposed merger, and Getty Oil filed a law suit for the court to issue a declaratory judgment that it was not bound by any contract it had with Pennzoil.

A Letter of Intent (LOI) on the other hand, is generally used as a "starting point" of discussion when purchasing real estate. It is a great tool to use to begin discussions, and usually is followed up with a formal Purchase and Sale Agreement.

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