Letter of Intent governed by the law of New York, United States
DealDocs sets the laws of the State of New York, without regard to its conflict of laws principles as the governing law when you choose New York, United States. The forum clause reads: “Each Party irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the Borough of Manhattan, City and State of New York, in respect of any dispute arising out of or relating to this document.”
Governing law
the laws of the State of New York, without regard to its conflict of laws principles
Legal system
Common law, a common law system, where statutes sit alongside a substantial body of judicial precedent that shapes how contract terms are actually read.
Conventional arbitration seat
New York, New York
Naming a party formed here
DealDocs' guided interview references the State of New York when you enter a party formed in New York, United States.
What's different about a Letter of Intent in New York, United States
The same Teachers v Tribune Type I/Type II framework applies to an LOI, making it possible for a document intended as a preliminary, mostly non-binding step to be read by a New York court as already binding the parties to the deal, or to a duty to keep negotiating it in good faith. The no-duty-to-negotiate and remedies limitation language in DealDocs' LOI is written specifically against this risk.
Build your LOI for New York now
The guided interview asks for the governing law up front, so the right jurisdiction-specific clauses are included automatically. Preview the full plain English guide and completeness check for free before you unlock the document.
Frequently asked questions
What is a Type II preliminary agreement in New York law?
An agreement that isn't binding on the deal's terms but does bind the parties to negotiate the remaining terms in good faith, a category an LOI can fall into without careful drafting.
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