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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PEAK is the period of maximal use or demand or activity; for example, at peak commute hours, street traffic can be unbelievable. See OFF-PEAK.

SUBLEDGER is for the purpose of organizing revenue and expense transaction for only one account, e.g., For an individual salesperson, like a general ledger, the subledger has different default account types, each from a salespersons perspective, not a company perspective. Thus, Due is due to the salesperson and Payable is payable by the salesperson.

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