What is the name of your state? Wisconsin
Our buyers submitted a letter of intent to buy our tavern business. Months later, and after countless phone calls and excuses, we still had not gotten a contract. We set a deadline by which time we expected the deal to be done and the deadline was agreed upon. The day before the deadline, they called to say they could not be available on the day of the deadline because one of the buyers had to work late. The deal fell through because neither of the buyers showed up by the deadline.
Given their letter of intent, can we get damages from the buyers because they failed to follow through?
Our buyers submitted a letter of intent to buy our tavern business. Months later, and after countless phone calls and excuses, we still had not gotten a contract. We set a deadline by which time we expected the deal to be done and the deadline was agreed upon. The day before the deadline, they called to say they could not be available on the day of the deadline because one of the buyers had to work late. The deal fell through because neither of the buyers showed up by the deadline.
Given their letter of intent, can we get damages from the buyers because they failed to follow through?