Preliminary Agreements as Signposts Instead of Mini-Contracts

Cathy Hwang, Deal Momentum, 65 UCLA L. Rev. (forthcoming, 2018), available at SSRN.

Martha Ertman

Cathy Hwang’s article Deal Momentum offers empirical evidence to support a new view of preliminary agreements that could reshape the way we think about these hybrids between contract and non-contract. Her data – interviews with deal lawyers and a review of practitioner literature – challenge the conventional wisdom that businesspeople in large mergers and acquisitions hire counsel to draft memoranda of understanding (“MOU”), letters of intent (“LOI”), or […]