Athletics: When a high school senior decides on which college he or she would like to attend and receive an athletic scholarship to do so, a letter of intent is signed. Many sports even have a national signing day to keep the playing field level.
Lawyers at the Coollawyer.com, explain the legal "paradox" inherent in the LOI, wherein the signing of an LOI, is often prone, not to bringing about less litigation, but more litigation, and put it this way: "Letters of Intent, legally, are the worst of all worlds. Writing a letter of intent is not to be taken lightly. In law, you either have a contract or you don't.