billy g Wrote:
rparis74 Wrote:
just use a bunch of disclaimers that makes clear that your plans may change.
For example:
Quote:
Except for [specifically identify any binding provisions], the remainder of the terms contained within this Letter is not intended to, and does not, constitute a complete statement of, or a legally binding or enforceable agreement or commitment with respect to the proposed Transactions, and the parties hereto agree not to assert any argument to the contrary. A legally binding or enforceable agreement with respect to the proposed Transactions would only arise as a result of the negotiation, execution and delivery of formal Definitive Agreements with respect to the proposed Transactions. The Parties specifically covenant and agree that no person shall bring any claim against any other person based upon this Letter as a result of the failure to agree on or enter into Definitive Agreements nor will this letter give rise to any damages against a Party or any right or obligation based on any legal or equitable theory including any right to continue negotiations.
I should add that this above post does not constitute legal advice, that I'm not an expert, yada yada yada
and its pulled from a loi for a corporate acquisition...obviously you'd need to taylor it to your needs.
