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Microcap & Penny Stocks : Advance Gaming Technologies Inc. (AGTI)
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To: Mike Boiko who wrote (1711)3/25/1998 6:30:00 PM
From: JEM  Read Replies (1) of 4539
 
TO ALL: Letter of Intent vs. Letter of Understanding:

<g> I'm a newbie trader, but this I can help clarify for y'all (I'm an old paralegal):

From Black's Law Dictionary: (my emphasis added)

Understanding: in the law of contracts, an agreement; An implied agreement resulting from the express terms of another agreement; A VALID CONTRACT ENGAGEMENT of a somewhat informal character.

Intent (Letter of ): customarily employed to reduce to writing a PRELIMINARY UNDERSTANDING of parties who intend to enter into contract.

Hope this helps clarify.

*JEM*
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