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What is the difference between a letter of intent and a memorandum of understanding?
By J.B. Maverick | Updated February 9, 2018 — 1:35 PM EST
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A letter of intent is likely to encompass a number of different aspects, and it varies in length according to the level of specificity and the type of transaction. All letters of intent lay out the basics of a deal, including cost, time frame and contingencies. Like a letter of intent, a memorandum of understanding outlines an agreement between two or more parties and is usually produced before a final, formal contract. The primary difference between the two is that a letter of intent is not binding, whereas a memorandum of understanding is considered binding and carries weight in a court of law.
Read more: What is the difference between a letter of intent and a memorandum of understanding? | Investopedia https://www.investopedia.com/ask/answers/042715/what-difference-between-letter-intent-and-memorandum-understanding.asp#ixzz58w0EPCs5
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