"Letters of Intent, legally, are the worst of all worlds. Writing a letter of intent is not to be taken lightly. In law, you either have a contract or you don't. LOI's are the legal equivalent of "almost pregnant." Letters of Intent emphatically state that. They state that they are not formal agreements, and then often proceed to set forth agreed terms of the proposed transaction. Given this paradox, if the deal goes sour, one party can argue [in court] that those agreed_upon points were, in fact, agreed upon _ or, in fact, a binding contract. And, in some cases, furthermore, that the party relied on the LOI and has monetary damages based on such reliance."
Author Benjamin O. Anosike, Ph.D. An acclaimed author and a leading expert on international oil trading procedures, Anosike's latest book is titled, "The Only Way the Commodities Intermediary Can Close a Petroleum Deal Today," billed as the most detailed, comprehensive, authoritative step_by_step guide ever written and available today for using the correct and most appropriate trading rules and procedures suited for the modern Internet era to find authentic, scam_free petroleum suppliers and opportunities. FOR MORE ON THIS BOOK, VISIT: http://www.ReliableOilDealsConsultancy.com