contestada

Amerimed is negotiating a deal with Mountain Medical (MM) for the sale of Amerimed's latest health supplement. Amerimed would like to package its supplements in bottles produced by Rick, but Rick says he will not enter into a contract with Amerimed until the MM contract is finalized. MM has sent Amerimed a letter of intent, but Rick thinks it is too vague and refuses to enter into an agreement with Amerimed. What should Amerimed do?

Respuesta :

Lanuel

In this scenario, Amerimed should send Mountain Medical (MM) its own letter of intent, stating that they do have a binding agreement.

What is  a contract?

A contract can be defined as a legally binding and enforceable  agreement between two (2) or more parties (business associates), which gives rise to a mutual and legal obligation for the parties involved to do business together.

What is a letter of intent?

A letter of intent can be defined as a formal document that outlines the understanding between two (2) or more parties (business associates) while explicitly stating (declaring) the intentions of the writer with respect to formalizing a legally binding agreement (contract).

In this scenario, a business deal is being negotiated between three (3) parties:

  • Amerimed
  • Mountain Medical (MM)
  • Rick

Since Mountain Medical (MM) has sent Amerimed a letter of intent, it is necessary that Amerimed acknowledges the letter and respond with its own letter of intent, wherein, it would be stated that there is a legally binding agreement between, regardless of what Rick thinks or his subsequent actions.

In conclusion, Amerimed should send Mountain Medical (MM) its own letter of intent, stating that they do have a binding agreement.

Read more on contracts here: https://brainly.com/question/17185606

Otras preguntas