A letter of intent is a non-binding document written and signed by one party to another stating a willingness to do business. No party is obliged to do anything said in the document unless agreed upon within the letter. Before signing any document, you need to consult an attorney. A letter of intent speaks of a plan to do business and not a commitment or obligation to do it. Note that your signature on a valid LOI can be considered a contract. However, any document you sign that intends to unwittingly involve you in a crime is regarded as a valid document.