A letter of intent is a firm commitment by both sides that they are ready to move toward closing the sale of the business.

Name: A letter of intent is a firm commitment by both sides that they are ready to move toward closing the sale of the business.
Brand: Quizplus
Rating: 4.8 (40 reviews)

Question

Quizplus · Accepted Answer

A letter of intent is a non-binding agreement that outlines the basic terms of a proposed business transaction. It is not a firm commitment by both sides to close the sale of the business.

A Letter of Intent Is a Firm Commitment by Both