Hensley and Boyer have been negotiating for several months over issues related to the purchase and sale of some real estate.They draft a letter of intent that
A)protects both parties by ensuring the other side is serious and creates a binding agreement on the issues on which the parties have agreed thus far.
B)may or may not be an offer, depending on the exact language and whether the document indicates that the parties have reached an agreement.
C)has a legal binding effect concerning the issues outlined in the letter.
D)courts will consider to be a valid offer which the other party must accept if offered in good faith.

Question

Quizplus · Accepted Answer

A letter of intent may or may not be an offer, depending on the exact language and whether the document indicates that the parties have reached an agreement. It is typically considered a preliminary agreement that outlines the key terms and conditions of a potential transaction, but is not always legally binding.

Hensley and Boyer Have Been Negotiating for Several Months Over