News & Blog

The Price of a ‘Promise’

21/10/2016 | ACUMEN BUSINESS LAW
Heads of Terms, letters of intent, term sheets, whatever you choose to call them are the documents that outline the key terms of a deal agreed between the parties in principle. Generally the heads of terms will be non-binding with a few sections intended to be binding (confidentiality for e.g.) However, just because a document is not legally binding doesn’t mean that you should not ensure it is carefully drafted and thought out. A less well thought out heads of terms can be difficult to move from as the parties usually feel a moral (if not legal) commitment to observe the key terms agreed. Later on when the parties are drafting the main contract, negotiations can turn difficult as there may be feeling from one party that the other party is reneging on earlier commitments.  Don’t enter into informal agreements or heads of terms lightly without getting all the information that you will need to ensure that you can proceed with confidence on your promises. 

For all your personal legal needs visit our sister firm Acumen People

Website More info & booking
Contact ACUMEN
Need more information? Get in touch.
 
What our clients say
"...we have used Acumen Business Law several times, not once have they failed to deliver the right result. Highly recommended."
Kevin Byrne | Checkatrade
"Its refreshing to have a new law firm on the scene which is challenging the more formal companies. I found Acumen very friendly, professional and thorough in my first dealings with them."
Nigel Pamplin | Prime Education
"...Acumen has proven to be an essential and trusted partner for the last 4 years. Through their advice, assistance and top quality work has consistently delivered excellent ROI..."
Robin Scott | Makemedia
"Tegen Ltd has used Penina’s services for a number of our businesses legal requirements. We thoroughly recommend the services and advice that she and her team provide."
Richard Smith | Tegen Ltd
"I have had need of Josh's and Acumen's services over the past couple of years, but fortunately I couldn't be in better hands. I couldn't give a stronger recommendation."
Jonathan Glendenning | Summer Rain Films Ltd
"I have used ACUMEN BUSINESS LAW on many occasions since switching to them. They’re a real breath of fresh air and they get the job done. I just wish I had come across them beforehand."
Joakim Roth | Light Foot LED
"We have used ACUMEN BUSINESS LAW and have been absolutely delighted with the level of understanding of our business that they have..."
Jon Clayson | Hunters Letting Limited
x

We use cookies on our website to improve your browsing experience.


By continuing to browse this website, we assume that you are happy for us to use cookies. To find out more please click here.