Nonbinding Letter of Intent Need Not Be Disclosed to Appraisers

Business Valuation UpdateVol. 9 No. 12
Legal and Court Case Update
December 2003
4011 Railroads, Line-haul Operating
482111 Line-Haul Railroads
breach of contract, fair market value (FMV)

Heartland Rail Corp. v. Railroad Development Corp.
2003 U.S. Dist. LEXIS 8269
May 15, 2003
State Court
United States District Court
R.L. Banks & Associates, R. Bruce Den Uyl, L.E. Peabody & Associates, Roger Grabowski, Norman Carlson, Theresa Poppei


The issue in this contract dispute was whether Railroad Development Corp. (RDC) had a duty to disclose the terms of a letter of intent to independent appraisers.

See Also

Heartland Rail Corp. v. Railroad Development Corp.

There are several motions pending and fully briefed before the court in this case.