letter of intent
a document in which A tells B that A will very likely enter into a contract with B The court established that there had been a letter of intent exchanged between Jackson's former manager and AllGood, but that a contract was never signed.
- When the parties had agreed in principle, they signed a letter of intent.
- The seller's lawyer drafted a letter of intent.
- The parties signed a non-binding letter of intent.
- Letter of intent is often abbreviated LOI.