Comprehensive Guide to Letters of Comfort, Pre-Contract Agreements, and Negotiation Tactics

Description

This Skill Bit shows that letters of comfort provide reassurance in business but usually don’t create binding obligations. Their legal effect depends on wording and intent, and some may unintentionally become enforceable. Legal advice is recommended to assess their enforceability. Contracts to enter into a contract or agreements to agree are not enforceable as they lack clear terms like offer, acceptance, and consideration. These are seen as preliminary negotiations. Contracts to negotiate are also unenforceable due to their uncertainty, serving as discussions without binding obligations until a final contract is made.

Duration approx. 6 Min.

Tier: advanced