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Now Previewing: General Letter of Intent
About This DocumentThis is a letter of intent that is entered into between a potential purchaser and seller of a particular asset, such as property or a business. This letter of intent is non-binding and does not require the parties to complete the transaction. Rather, the true purpose of a letter of intent is to memorialize terms the parties have already agreed on and to show that the potential purchaser has a genuine good faith interest in the transaction. This letter of intent should be used by parties who are in the midst of negotiating the sale and purchase of a particular asset.