Continuing our discussion of best contracting practices, today we discuss letters of intent (“LOIs”) and memoranda of understanding (“MOUs”). Businesses use these types of documents to ...

Examples of business letters are job offer letters, cover letters that you submit on job posting sites, ... A business letter must be formatted for clarity and ease of understanding.

Both a letter of intent and a memorandum of understanding establish business agreements. Neither term has a strict definition, so they are sometimes used interchangeably.