WebCredenza 2024 Letters of intent in business transactions

Recording available after the original program date, 12/13/2024

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.

Opinions and positions stated by presenters of MoBarCLE programs are those of the presenters and not necessarily those of The Missouri Bar. This program is intended as information for lawyers in Missouri, in conjunction with other research they deem necessary, in the exercise of their independent judgment.

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.