Nature, validity and effects of letters of intent: from common law to civil law

Abstract

Since letters of intent do not have a specific regime and a ‘standard’ nature, they constitute a problem for the legal operator, as their effects could be of the most diverse. In view of this, the author proposes the determination of their nature, validity and effects based on the particular analysis of the terms of each letter of intent and, by virtue of such analysis, to verify whether Peruvian law may be applicable. The purpose is to establish the necessary parameters to interpret the scope of this type of documents, whose operability is becoming more and more frequent in national and international transactions.