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Letter of Agreement

Letter of Agreement

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Published by RocketLawyer
A Letter of Agreement is frequently used in lieu of a more formal contract. The parties should bear in mind that use of a letter could imply that the sender is the offeror. Once the recipient accepts and signs this Letter of Agreement it becomes a formal contract and the parties are bound by it. Letter agreements can vary widely in the amount of detail and specificity included. The Letter of Agreement also contains standard provisions which reflect the agreement of the parties.
A Letter of Agreement is frequently used in lieu of a more formal contract. The parties should bear in mind that use of a letter could imply that the sender is the offeror. Once the recipient accepts and signs this Letter of Agreement it becomes a formal contract and the parties are bound by it. Letter agreements can vary widely in the amount of detail and specificity included. The Letter of Agreement also contains standard provisions which reflect the agreement of the parties.

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Categories:Business/Law
Published by: RocketLawyer on Feb 23, 2012
Copyright:Attribution Non-commercial

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06/23/2013

 
 
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