How conceptualli differ the latter of intent and the letter of credit?

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How conceptualli differ the latter of intent and the letter of credit?

What is the legal capacity in the contract?

Asked on November 18, 2012 under Business Law, Illinois

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

I am not sure I understand the question but a letter of intent and letter of credit are two different items. A letter of intent can be construed as a pre-offer or beginning the stages of negotiation.  A letter of credit is usually consider the final agreement (i.e., offer, acceptance and consideration has already been made).


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