Eternal Image Inc (fka ETNLQ)

[Basser1]

"Now, you still would have to deal with breach of contract, which the BINDING LOU is."
--A "letter or memorandum of understanding" is not a contract. It leads to a contract. With no monetary penalties outlined in the LOU, "binding" loses some of its punch, in my unschooled opinion.

The LOU is binding on the parties, but contemplates them entering into a more definitive contract in the future.

If the LOU is not a binding contract then how could the contract that is contemplated be A MORE DEFINITIVE CONTRACT. This sure sounds like both parties involved seem to think that the LOU is indeed a contract. The more defined contract will contain all the terms and conditions and will not be for the public to view. JMHO

Basser