How Binding is a Letter of Intent?

Posted on August 6, 2009 in Contracts and Law | No Comments

Mark Galsor and Jesse Saivar tackle the question – how binding is a letter of intent when it comes to producers?

…A true letter of intent is as binging as your To Do list, or at least it should be. You intend to do the things on your To Do list, but if you don’t do them you won’t get sued. The only way a letter of intent is legally binding is if it’s not truly a letter of intent. It’s not what you call something, it’s what it is. You can have a piece of paper called a letter of intent that actually contains a binding agreement or you can have something called a binding agreement that actually contains no agreement at all but just a list of non-binding things the parties intend. It seems like you have something called a letter of intent which actually contains your agreement to attach a producer to your screenplay.

— FilmIndependent.org | Read The Full Article