The case law in most states includes a line of cases arising out of failed corporate acquisitions.  The typical case goes like this.  The parties sign a letter of intent to pursue a merger or acquisition.  The letter of intent states that the deal is not binding until the parties sign a definitive agreement.  The parties never sign a definitive agreement and the deal is cancelled.  A disappointed party claims that, despite the language of the letter of intent, the parties had reached an enforceable deal.  In St. Joseph Hosp., Augusta, Georgia, Inc. v. Health Mgmt. Assoc., Inc., Case No…. Read more