Letter Of Intent
Consider the following statements:
- A letter of intent (LOI) is a document declaring the preliminary commitment of one party to do business with another.
- A Memorandum of Understanding is often used at the beginning of a business partnership.
- A Term Sheet is used to show interest in an investment opportunity. Often it is used to outline a potential agreement between an entrepreneur and investors.
Which of the above statements is/are correct?
2 and 3
1, 2 and 3