Nonbinding Letter of Intent Need Not Be Disclosed to Appraisers

Business Valuation UpdateVol. 9 No. 12
Legal and Court Case Update
December 2003

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4011 Railroads, Line-haul Operating
482111 Line-Haul Railroads
contract
breach of contract, fair market value (FMV)
Heartland Rail Corp. v. Railroad Development Corp.
2003 U.S. Dist. LEXIS 8269
May 15, 2003
US
State Court
Illinois
United States District Court
R.L. Banks & Associates, R. Bruce Den Uyl, L.E. Peabody & Associates, Roger Grabowski, Norman Carlson, Theresa Poppei
Coar

Summary

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.

Full Text of Court Cases
May 15, 2003

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