On alternate Thursdays, Sarah Schutte of Schutte Consulting and I are holding blab debates about various issues in construction. Our first debate discussed whether a letter of intent was better than ‘no contract’. This blab covers:
- the requirements for a contract,
- the critical contents for a workable legally binding letter of intent
- why bother with a contract,
- how a letter of intent fits into your contract strategy,
- the risks involved in both options, and
- how to make life easier for yourself (and possibly avoid letters of intent).