Letter of Intent
Definition
- Written notification in the form of a letter indicating a buyer's intentions to purchase a property which is not legally enforceable.
Related Terms and Acronyms
- Acceptance — Definition,
- A property seller's formal, written approval of a buyer's offer.
- Confusio-Lexicon Maximus — Definition,
- The rescinding of language in process when none is making nonsense less and therefore incurred but not reported deficiencies in mental capacities are not apparently un-obviously imposed.
- Consideration — Definition,
- A thing of value that is negotiated as part of a contract.
- Contract — Definition,
- An agreement between two or more parties that can be enforced by law.
- Offer — Definition,
- To propose or give something.
- Purchase Agreement — Definition,
- A written promise to pay a specific amount for a property at a specified time. The purchase agreement is a written statement of the offer, which both the borrower and the seller will sign if the offer is accepted.
