Contractually binding letters of intent
Authors
Citation
Building journal Hong Kong China, Apr, 1994, pp. 101-105
Abstract
Letters of intent are a useful "stop gap", however, they should not be regarded as a permanent substitute for a formal contract. In this article, John scriven and Damian McNair of Allen & Overy discuss the pitfalls of allowing a contract to proceed too far before an employer enters into a formal building contract with a contractor.
(1) The field of choice
(2) The preference
(3) Why adopt a contractural letter of intent?
(a) Certainty of terms
(b) Possibility of claims
(c) Incentive to enter into formal contract
(4) Further points to address
(5) Useful, but a first aid measure
Description
Subject
Type
Article
Format
Date
1994
Language
en