Definition of "letter of intent" []

• A written statement expressing the intention of the undersigned to enter into a formal agreement, especially a business arrangement or transaction. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "What I do know is that between having signed this letter of intent and receiving our advance payment, your company has given Keaton Electrical Marvels the sole right to develop the technology you have created and named ‘Forge.’"
• "He told them he was too old to be roped any more, and they wouldn’t get any information out of him until he got a letter of intent from at least the Polar President and a session of the Polar Congress empowered to make him dictator."