The Enforceability of Letters of Intent

, New York Law Journal

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In their Real Estate Litigation column, Todd E. Soloway and Joshua D. Bernstein, partners at Pryor Cashman, examine the question: What happens when parties execute a letter of intent involving a real estate transaction, but, instead of finalizing the transaction, the deal falls through? Is the letter of intent an enforceable agreement that would give rise to liability?

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