Please please read the instructions and view each attachment before accepting so
we don’t have to do several edits. You will have to do research on wineries in
California. Must be single spaced but double spaced in between paragraphs.
This is in the rubric but just wanted to re state it because this is the bulk of the assignment.
Content of Non-Binding Letter of Intent Meets all of the following:
● Defines the terms used, if necessary
● States that it is not a contract and is “nonbinding”
● Specifies a time frame for the client’s decision whether topurchase
● Addresses terms to be discussed/negotiated
● Addresses any statutes, regulations, or ordinances that govern the purchase
● Addresses any licenses or registrations with state or local entities required to own and operate a winery or vineyard
● Addresses any required notifications regarding the purchase/change of ownership
● Includes adequate descriptions of what will be included in the purchase
● Allows for negotiation of the purchase price, deposit amount letter of approval by the client’s lender, close of escrow date, andall other terms of the purchase within a specified time if client decides to purchase
● Is not redundant
The purchase is contingent upon the client’s inspection and approval of all items listed in the checklist. That doesn’t mean you need to include all of those items in the letter itself; you may use an addendum for the more detailed information.
Due Diligence Checklist link : https://www.findlaw.com/smallbusiness/starting-a-business/buying-a-business-due-diligence-checklist.html
