What Is Agreement Of Intent

“It is part of the folklore of the construction industry that there is a mythical animal, the `declaration of intent`, whose legal effect, when answered, is that it authorizes a contractor to pay for what he does, but does not expose him to any risk because he does not impose any contractual obligation on him. in fact, the legal effect of a letter of intent depends on the true interpretation of the communication between the parties and, if so, the effect of their actions under those communications. – Tesco Stores v. Costain Construction [2003] EWHC 1487 (TCC) – HHJ Richard Seymour QC, para. [160]. .