Are Agreements To Negotiate Enforceable?

Law360, New York (April 17, 2009, 12:00 AM EDT) -- Your company has been engaged in a lengthy negotiation to buy or sell assets. You’ve spent hundreds of thousands of dollars on due diligence and legal fees, and countless hours exploring the potential transaction. At the 11th hour, the other party pulls the plug, leaving you to swallow the costs of the failed transaction.

To make matters worse, you were planning to re-convey the assets to a third party at a profit. Or, you are the seller and news of the failed transaction has been leaked,...
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