Letters of Intent (LOI's) & Their Cousins: Enforceable For or Against You?
Duration: 60 Minutes
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On the spectrum of legal documents between contracts and mere inquiries lies the hazy land occupied by Letters of Intent and similar documents such as Memoranda of Understanding, expressions of intent and other deal-making communications that do not fit all the elements of being a fully enforceable contract. However, in that hazy land, some of those communications may be enforceable some of the time. This webinar will tell participants what to watch out for, so that enforcement is possible only when desirable and avoided when undesirable.
03/13/2018 10:00 AM03/13/2018 04:00 PMTraining Topic: Letters of Intent (LOI's) & Their Cousins: Enforceable For or Against You?Instructor: Morris Nunes
Objectives of the Presentation
How to recognize and categorize documents within the three classes of documents that fall along the spectrum
How to know when each of the three classes is enforceable
How to decide when each of the three classes may be useful
How to craft the kind of document desired
How to avoid misunderstandings and mis-readings of intentions
How to handle those laws may differ among jurisdictions and internationally
How to amend or terminate documents
Why Should you Attend
Anyone with actual or apparent authority to enter into any kind of contract - to sell, buy, promise, warrant, etc. - should understand the risks and opportunities presented by utilizing or not utilizing these different kinds of deal-making communications (which could even be as simple as email or text exchanges). Failure to understand can mean great costs, unpleasant litigation, disrupted operations and missed objectives. For professional advisors, a failure to understand can also mean distressing liability.
Terminology of the spectrum of documents
Classification of particular document types
Enforceability of particular document types
Planning for use or avoidance of particular document types
Analysis of the nature of wording as proof of intent to be bound
Safe harbor language for locking in the proper intention
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Morris A. Nunes is an attorney in private practice who specializes in representing entities. Mr. Nunes has over 40 years of experience advising privately held businesses, non-profits and trade associations. He has authored six books on business and legal subjects, including Basic Legal Forms for Business and The Right Price for Your Business and Balance Sheet Management. Mr. Nunes is a graduate of the University of Pennsylvania, its Wharton School of Business, and Georgetown University Law Center. He taught as an Adjunct Professor in both the law school and MBA Program at Georgetown and at Catholic University Law School.