Explain the purpose of a letter of intent.
What will be an ideal response?
ANSWER: A letter of intent (LOI) is a preliminary, mostly nonbinding document meant to record the intentions of two or more parties to enter into a future agreement based on specified but incomplete terms. LOIs may, however, contain provisions that are binding, such as nondisclosure agreements, a covenant to negotiate in good faith, or a stand-still provision that promises exclusive rights to negotiate. The purpose of an LOI may be to clarify key points of a complex transaction for the convenience of the parties, to declare officially that the parties are currently negotiating, or to provide safeguards in case a deal collapses during negotiation.
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The Internet is a much better medium for the targeted promotion of a certain cosmetic brand, but
due to the high poverty levels in Alagaesia, newspapers have better market penetration and are hence preferred for promotion of the cosmetic brand. Which of the following market forces is affecting the market the most in this case? A) technological forces B) social forces C) political forces D) economic forces
To write effective, scannable resumes, you should avoid
A) Using high-quality paper. B) Placing your name at the top of the resume. C) Using Helvetica or Arial fonts. D) Omitting repetition of keywords from the job advertisement.
Substantial performance of a contract constitutes a material breach.
Answer the following statement true (T) or false (F)
The __________ interest rate is based on the cost of borrowing offshore U.S. dollars in the global interbank market
a. International Rate Exchange b. Frankfurt International Trade Rate c. London Interbank Offered Rate d. New York Exchange Rate