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A letter of intent is a document that outlines the terms of a future agreement, often created before a formal contract is executed. It typically specifies a deadline for this contract. Letters of intent can be legally binding or non-binding; non-binding letters indicate a good faith commitment to negotiate a future agreement but are not enforceable by law. This document can be useful in various contexts, including real estate, business transactions, lawsuits, and immigration proceedings. The video tutorial also provides examples and further resources to help viewers draft their own letters of intent.
