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Summaries and analysis of recent Delaware court decisions concerning business-related litigation.
Morris James Blogs
Court Of Chancery Explains Essentials Of An Enforceable Contract
When is a letter of intent or term sheet an enforceable contract? Delaware says it is enforceable when the parties intend to be bound and when the agreement contains "all essential terms." Exactly what all that means is often disputed. This decision summarizes case law in a manner that will help to resolve this important question.