Alternative Dispute Resolution
Mar. 30, 2023
Term sheets and mediator proposals: not always enforceable, but valuable
A term sheet or mediator’s proposal can be a valuable tool in moving the parties to agreement, even if its ultimate enforceability is uncertain.
Mark Loeterman
Mediator
Signature Resolution
Real Estate, Employment, Contract and Business Litigation
Phone: (310) 556-8300
Email: MLoeterman@SignatureResolution.com
Southwestern Univ School of Law
After a long, challenging day of mediation, the parties frequently reach agreement on the essential terms of a settlement. Eager to memorialize the deal, counsel draw up a term sheet, presuming it will be enforceable. That writing may indeed be enforceable if certain conditions are met, but enforceability is not guaranteed. It is important for parties to understand the potential limitations of a term sheet, which likely does not include all the provisions typically f...
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