Unformatted text preview: Issue: Whether there was a offer and acceptance of a lease, aka a contract Rule: Letters of Intent has two functions, (1) to contractually bind the parties to obligations (2) parties intended to document their progress. Rational: Paragraph 8 shows that the party intended to continue on negotiations. Paragraph 9 states that a lease had to be signed, for the lease to take effect. Holding: This was a letter of intent as to document their progress, and not itself a lease. There was no meeting of the minds. Synthesis: Dissent/Concurrences:...
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- Fall '11
- Neal, Store Properties, 72 Cal