Judge Richard Posner is one of the most well-known judges in the nation; he has been a fixture on the Seventh Circuit Court of Appeals for almost three decades, and is one of the most prominent legal scholars of his (or most any) generation. This article reviews a recent decision by Judge Posner which is relevant to any business--when a letter of intent expressly says it is non-binding, you rely on that letter of intent at your peril; a court will not enforce it.
- Summary by FizzLaw Team
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When a document says it isn’t a contract, it isn’t a contract – Posner, J.