How To Write LOI's And Term Sheets: An Executive's Guide To Drafting Clear Legal Documents Before Bringing In The Lawyers

This is a short but powerful guide. It's sort of a checklist, except that the author explains each point. He also assists in helping you to write clearly to avoid misunderstandings, and to avoid confusion over issues. With business issues being so complicated today, LOI's are more sensible and even necessary for business executives. Until you have a deal in principle, you aren't going to spend a fortune on a law firm drafting a massive offer to purchase. It wouldn't even make sense--too many unresolved issues. This way, using an LOI drafted with the assistance of this guide, you can submit a letter outlining your proposal. If it gets accepted in principle, then you can go to the lawyers for more specific and detailed contracts. A hidden benefit: if it's a real estate deal, or financing deal, you are usually required to give a good faith deposit with your contract. Here, with the LOI, there's no deposit. Since you'll have a clause whereby both sides agree to negotiate the formal contract in good faith, you have effectively tied up the asset without a dime! That's a tremendous benefit, especially if you don't have the large deposit that some deals require. If your LOI gets accepted in principle, you have time during the negotiating ofthe formal contract, to dig up the deposit. So the LOI is indispensable for wheeler-dealers. This guide is indispensable for LOI users. Same idea of terms sheets. For those of you who might complain that there are no precedents or sample LOI's or terms sheets in the ebook, I partially concur. That's why I give it a 4 out of 5. But the author would have had to put in a ton of precedents for different situations, and expose himself to greater liability if a precedent on your niche was not applicable and you had problems. So I understand the ebook leaving out precedents. But you can get them from online legal precedent services, and probably even search engines. Google "letter of intent" and you'll see samples to use for form. Then make sure to use this ebook to fill out content and make it understandable.

Generally speaking, not so excided, but still acceptable in terms of the price. it does not go any furhter re important terms, nor does it provide any vivid example. it should be ok for a beginner who just wants to know what an LOI or term sheet is.

If you know absolutely nothing about writing LOIs and TSs - or legal docs in general - this might be a good start.

Not as useful as I had hoped.

This little pamphlet is completely useless. What will you learn? Nothing. Don't waste your money. I would rate it zero stars.

Nothing there in this not substantial book. I must write an additional 13 words in order to write this review.

Ok, I haven't had a chance to have a look at it yes, as kindle is forcing me to write review now

The book was tiny Failed to address many of the legal issues surroundin g LOIs and I fear may have got some of them wrong ....

its a nice book for beginners and to understand how commercial teams are doing work.....nice, handy and worth for money.

Use Less I was hoping for a sample template to assist. Vague descriptions without examples is not helpful. Too short