The term “preliminary agreements” refer to those agreements such as a letter of intent, memorandum of understanding, contract to contract, contract to bargain, agreement to agree, which are concluded in expectation of a final contract. These preliminary agreements are becoming further important in the business life. This an issue whether a preliminary agreement is biding on the parties to it. This Article provides a general view of recognition and enforceability of various preliminary agreements in common Law with a reference to English and the United States.
)