Take Note, Texas, Letters Of Intent May Need A Rewrite

Law360, New York (March 28, 2014, 6:10 PM EDT) -- After a lengthy and much-publicized trial, a jury in Dallas returned a verdict on March 4, 2014, that has drawn significant interest from the energy industry in Texas, due not only to broad familiarity with the parties involved and the large amount of money at stake, but also to the legal principles involved.

The case involves issues surrounding the use of nonbinding letters of intent in the early stages of project development and, in particular, the question of when the parties’ later conduct may trump their...
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