List/Grid Tag Archives: letter of intent

Both terms are used to describe an offer made to purchase a business.  An over-simplification of the definition of both documents is:  An Offer to Purchase is usually written in contract form and defines the price, terms and conditions of the sale, and is usually accompanied by an earnest money deposit.  A Letter of Intent (LOI) is usually written in letter form and also defines the price and the terms and conditions but usually doesn’t call for an earnest money deposit.… Click here to continue »