I posted a project needing funds for the purpose of multiple business acquisitions about a month ago on a posting board in an investors' website and a private investor wrote me asking for more info. Well, he accepted the project and is willing to back it 100%, but his funds are tied up with a Venture Capital group. So now they want their terms and "cut" for the deal and gave me basic guidelines thus far, although negotiable, and they need my Letter of Acceptance at this point. So, should I send the letter with contingencies within it I am concerned with that hasn't been addressed as of yet, or should I have them address those items of concern first before the letter is sent? Is this letter they asked for just a formality to begin the process of negotiation for an agreeable contract?
Since this area is foreign territory for me and way outside of my realm of expertise, I need some insight on where I stand at this point and how to proceed without possibly offending or looking naive.
2006-08-01 10:57:06 · 2 answers · asked by Jettran E 1 in Business & Finance ➔ Investing
Get yourself an attorney, this doesn't sound right. It sounds like they're using undue influence in an attempt to get favorable terms. Don't accept anything until you speak with an attorney.
2006-08-01 11:02:43 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you are asking Yahoo Answers about the significance of any legal document, you need a lawyer. My uninformed opinion is: a Letter of Acceptance is a commitment to something. If you don't know what your are committing to, you shouldn't be committing to it.
2006-08-01 19:39:34 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋