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Letters Of Intent And Other Preliminary Agreements: Married, Engaged Or Just Friends?
The Delaware Supreme Court recently decided that an agreement that the parties "will negotiate in good faith with the intention of executing a definitive License Agreement in accordance with the terms set forth in the License Agreement Terms Sheet" gave rise to an enforceable contract and a right to recover full contract damages, notwithstanding the fact that every page of the Term Sheet was labeled "Non Binding Terms."
United States
20 Aug 2013
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Material Breach In Outsourcing Contracts
A well-negotiated outsourcing agreement typically grants a customer the ability to terminate the arrangement without payment of any penalties in the event of a "material breach."
United States
3 Jan 2013
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