Enforcing Preliminary Agreements

Contract formation in commercial transactions can be an expensive and intricate process involving multiple stages and players, as well as significant investments in expertise and information.  In complex asset purchases, leases, corporate acquisitions, or venture financing transactions, to name just a few types, it is practically impossible for the parties to execute a fully stipulated and binding contract in a single meeting or over a very short period of time.  Negotiations of these transactions are typically sequenced, with a subset of issues being addressed at each stage and by numerous agents with different expertise.  The parties frequently enter into preliminary … Read more