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So, if a letter or document that nominally or presumably conveys the signer's "intent" or intention to buy, is essentially meaningless and worthless in legal terms, and is not binding on the signer or anyone, and CANNOT be enforced on him, then why would a respectable crude buyer, in the first place, want to waste its precious time and resources (or that of its expensive lawyers) to engage in such a fruitless exercise for the benefit of a seller? Especially for an unknown or obscure seller?

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

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