A Letter of Intent (LOI) is a document outlining an agreement between two or more parties before the agreement is finalized. It is commonly used in business transactions such as mergers, acquisitions, and partnerships.
A Letter of Intent (LOI) is a document outlining the preliminary commitment of one party to do business with another. The LOI can be used as a means to formalize discussions that may culminate in a final agreement. It includes terms and conditions of the planned transaction.
A document that sets out the main terms of an agreement between two or more parties and their intention to enter into a binding contract once certain details have been finalized. While not a formal contract itself, certain provisions can be enforceable.
A quasi-contract is a legal obligation imposed by a court to prevent unjust enrichment and ensure fairness, even though no formal contract exists between the parties.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.