LETTER OF INTENT Definition

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LETTER OF INTENT (LOI) is a document that describes the preliminary understanding between parties who intend to make a contract or join together in another action.

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GOING SHORT is the selling of commodities, bonds, or stock before actually buying it. This happens when a dealer or investor believes the price of the item (on the date of its delivery to the buyer) will be lower than its current price. He or she expects to make a profit by buying the item on or just before its delivery date. See GOING LONG.

MONEY MARKET PREFERRED STOCK see AUCTION-RATE PREFERRED STOCK.

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