This was the view adopted when the Fraud Act requires that land contracts be signed in writing and by the parties, and all e-mail communications in this case contained a statement of text in the signature line stating that «this transmission was not a digital or electronic signature and could not be used in the form of the contract.»  Once the law is signed and the due diligence process (financial, operational and legal) proceeds smoothly, the next legal document to be addressed is the contract to purchase shares or assets. The transaction`s lawyers will use the LOI as a blue impression and minimize these points in a proposed asset or share purchase agreement. The sales contract also contains all the legal elements that cover the extent, content and impact of the different representations, guarantees and compensations of the buyer and seller; The trust is deferred for a limited period of time to guarantee the seller`s representations and allowances; post-completion accommodations and compensation procedures; The award of the purchase price royalties; Expenses and taxes. The final sale contract can be between 10 and 100 pages long depending on the size and complexity of a transaction. In conjunction with the parties` aforementioned admission that all essential conditions were agreed in the LOI, the Tribunal found that the use of the «agreed» formulations to «accept» and «this agreement» signed the intention to be linked to the signing of the LOI, especially since the «parties used the language of the contract».  In addition, it was decided that the conduct of the parties – that is, the purchaser who visits his two sons` premises on a daily basis and the seller`s announcement at the special worker`s meeting – indicated that the parties stood bound by the LOI.  When selling a company, all parties sign a Memorandum of Understanding indicating that the buyer and seller have reached an agreement in principle on the main business points of the transaction. The LOI is essentially a «written handshake» between the buyer and the seller, which lists the high-level activity points to be included later in a final sales contract.