Are intentions binding? Developing a harmonised legal approach to letters of intent in international
Promovendus: Mw. E. Pannebakker
Promotor: Mw. Prof. X.E. Kramer
Duur: 1/10/2011 - 30/9/2015
Promotie: Rotterdam, 22/12/2016
An increasingly popular way for parties to overcome distrust before entering into a contract is to issue one a document such as a letter of intent. While negotiations on details continue, parties often start to work and invest as if the contract has been concluded. A declaration of intention may become binding only in certain countries. Thus, paradoxically, an international letter of intent can precipitate unsecured financial interests, unwanted obligations, and liability. This research will study the legal nature of letter of intent based on a comparative law analysis (England and Wales, France, the Netherlands and the U.S.). The study aims at building a harmonised theoretical approach to letter of intent, enhancing legal certainty in international contracting.