In a business sale, a letter of intent:
A) states that the buyer and the seller have reached a sufficient meeting of the minds to justify the time and expense of negotiating a final agreement.
B) should contain a clause calling for "good faith negotiations" between the parties.
C) addresses such issues as price, payment terms, a deadline for closing the deal, and others.
D) All of the above

Question

Quizplus · Accepted Answer

A letter of intent in a business sale typically includes all three elements mentioned in choices A, B, and C. It indicates that the parties have come to an agreement on the essential terms of the sale, includes a clause requiring good faith negotiations, and covers issues such as price, payment terms, and other relevant matters.

In a Business Sale, a Letter of Intent