by Daniel E. Wolf, Partner at Kirkland & Ellis LLP, 3/3/2010
A recent Delaware bench decision from newly appointed VC Laster on a motion for a temporary restraining order offers a timely reminder of potential pitfalls for parties entering into letters of intent or term sheets (for ease of reference, collectively referred to as LOIs) with the expectation that they merely represent an unenforceable "agreement to agree."
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