Progressive Care Inc (RXMD): Re LOI discussion. Letters of intent are...

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Re: hopeok post# 74980

Thursday, 03/08/2018 9:45:14 PM

Thursday, March 08, 2018 9:45:14 PM

Re LOI discussion. Letters of intent are not enforceable as contracts, but they are not without meaning in law. I don't have access to Florida laws, but this is from Westlaw's Texas database. Just a clip from the synopsis of a 2003 civil suit.

"lawsuit against defendants alleging, among other things, fraud, conversion, breach of fiduciary duty, civil conspiracy, breach of the nondisclosure agreement, breach of the letter of intent, and ... seeking damages and injunctive relief."

They are not necessarily a done deal, but they are matters of fact in civil actions.

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