Assertion: letter | /r/HasProperty | binding
Facets:
value: legally
type: MANNER
value: determined in some cases
type: OTHER
value: rarely
type: DEGREE
value: in a business deal
type: OTHER
Source sentences:
text: When a Letter of Intent Is Non-Binding
text: A letter of undertaking can be a legally binding form that makes both parties obligated to fulfill the terms of an arrangement that was previously agreed upon.
text: They are rarely considered legally binding documents.
text: A letter of engagement is a legal document and binding in a business deal.
text: In a business-to-business transaction, a letter of intent normally contains a provision stating that the letter is non-binding.
text: Key Takeaways A letter of intent (LOI) may be legally binding, depending on how it is worded, and in some cases, whether a court has determined it is legally binding.
text: To determine whether the letter is legally binding, courts will consider the written expression of intent in the letter, and what actions the parties mentioned in the letter take after the letter has been signed.
text: A court relies on two factors when determining if a letter of intent is binding: written expressions of intent present in the letter and demonstrative actions taken by both parties after the letter of intent is signed.
text: Suppose a letter of intent is non-binding, but one company incurs costs or devotes resources only to eventually have the deal fall through.