How conceptualli differ the latter of intent and the letter of credit?
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How conceptualli differ the latter of intent and the letter of credit?
What is the legal capacity in the contract?
Asked on November 18, 2012 under Business Law, Illinois
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I am not sure I understand the question but a letter of intent and letter of credit are two different items. A letter of intent can be construed as a pre-offer or beginning the stages of negotiation. A letter of credit is usually consider the final agreement (i.e., offer, acceptance and consideration has already been made).
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