Replies to post #12629 on World Surveillance Group Inc (fka WSGI)

[rocky301]

PdxLou,

We had a letter of intent(LOI).

Letter of Intent Definition
A non-binding agreement between parties involved in a contract to move forward with negotiations or complete a project.

"Formalized agreement" like announced in todays PR is binding

[rocky301]

PdxLou,

here are the definitions straight from the NASA Space Agreement: I urge all to read, good info..
http://nodis3.gsfc.nasa.gov/1050-1.html

I.10. NONAGREEMENTS

Examples of nonagreements include the following. While they describe or anticipate provision of goods and/or services, they are not legally enforceable:

-- Letter of Intent.
-- Protocol.
-- Agreement in Principle.
-- Technology Plan.
-- Program Plan.
-- Technology Plan.
-- Program Plan.
-- Action List.
-- Meeting Minutes.
-- Working Group Minutes.

I.2. AGREEMENT DEFINED

"Agreement" defined in the broadest of contexts includes any agreement concluded under the authority of the NASA Space Act (contracts, leases, cooperative agreements, or other transactions). Generally, agreements establish a set of legally enforceable promises between NASA and another party to the agreement, requiring a commitment of NASA resources (including funding, services, equipment, expertise, information, or facilities) to accomplish the objectives of the agreement. Agreements may be categorized according to the character of the other party to the agreement; e.g., an entity can have either a public (state) or private (corporate) nature. In addition, NASA has also categorized agreements into those providing for payment of NASA`s costs by the other party (a reimbursable agreement), and those requiring NASA and the other party each to bear the cost of the undertaking (a nonreimbursable or cooperative agreement). In some cases, NASA may enter into ageements to provide funding to a party (a funded agreement). Another significant basis on which agreements are categorized is whether the agreement is enforceable under U.S. or international law.