Discuss the following statement

Discuss the following statement: “Parties to a construction contract will often exchange a “Letter of Intent” pending preparation of a formal contract. Broadly
speaking there is no clear authority on the legal effect of such letters.”

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Discuss the following statement:
“Parties to a construction contract will often exchange a “Letter of Intent” pending preparation of
a formal contract. Broadly speaking there is no clear authority on the legal effect of such letters.”
Manalo, S. (2006). “Say in a letter” Building.
Your answer should cover and explain the additional risks that organizations may be exposed to
as a consequence of using a letter of intent instead of a signed contract.

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