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Self-Study

2020 Letters of Intent in Business Transactions


Total Credits: 1.2 Self Study, 0.0 Kansas Credit

Practice Area:
Business & Corporate
License:
Access for 1 year(s) after purchase.


Description

Letters of intent frame the material terms of business and commercial transactions. They outline with considerable detail the substantive terms of the underlying agreement – price, reps and warranties, closing conditions, etc. They also provide a process by which a definitive underlying agreement will be finalized. But they are not, generally, intended to be definitive agreements themselves; not enforceable, only a substantial starting point. There is, however, a certain point at which the detail in these letters becomes so extensive that they become enforceable. This program will provide you with a practical guide to the most important substantive and process aspects of letters of intent, their uses and traps, including unexpected enforceability.

  • Drafting effective letters of intent in transactions
  • Purposes of letters, timing, relationship to diligence, exclusivity
  • Substantive terms v. process terms
  • Indemnity, hold back and limitation of liability provisions
  • Termination of a letter and survival of certain provisions
Understanding the point at which letters of intent may become enforceable
Note: This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for GAL Certification, ethics, elimination of bias or Kansas credit.

Materials

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