Search for: "Pennzoil Co. v. Getty Oil Co."
Results 1 - 1
of 1
Sorted by Relevance
|
Sort by Date
16 Jan 2021, 10:57 pm
Unfortunately, when negotiations between the parties break down, letters of intent are often at the center of litigation.[2] In perhaps the most famous example of litigation around the enforceability of a letter of intent, Pennzoil won a judgment against Texaco for $10.5 billion, and Texaco was forced to seek bankruptcy protection.[3] Despite the legal risks, companies continue to use letters of intent. [read post]