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The lawyers add that: "This is the legal problem with a Letter of Intent _ you can't legally state you agree to something and then state that you don't in the same document." Famous Case of a Letter of Intent Gone Bad: Court Case of GETTY OIL vs. PENNZOIL

Contrary to the sellers' and their super sales_conscious agents' familiar claim that "There is nothing to lose in signing those documents," quite the complete opposite is true _ namely, a great deal, in fact, could potentially be lost particularly by the buyer by signing an LOI to a supposed seller. Why? In a word, this is because the LOI is actually fraught with many incalculable legal flaws, traps and pitfalls, much of which could often be prohibitively costly for the buyer, according to legal authorities and contract law experts. (See below for more on this)

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