Letters of Intent—Enforceability Issues
Probate and Property, September/October 2003, Volume 17, Number 5
By Alfred M. Meyerson and Thad H. Armstrong
Alfred M. Meyerson is a partner and Thad H. Armstrong an associate in the Houston office of Thompson & Knight LLP.
Letters of intent are efficient tools used on a daily basis to get the ball rolling in real estate leasing transactions. They focus the parties on the material terms of the deal, psychologically commit them to the deal, and provide the skeleton for what will ultimately become the contract.