Logan v. D. W. Sivers Co.

*342GILLETTE, J.

This case arises out of a property owner’s promise to a prospective buyer to refrain from soliciting or accepting offers from other potential buyers for a specified period of time, during which time the parties anticipated that they would be able to negotiate a binding agreement for the sale and purchase of the property in question. At issue is the enforceability of such a promise, when it is made in the context of a “letter of intent” that elsewhere expressly provides that only a fully executed purchase and sale agreement will create binding obligations between the parties. Also…