Rebecca Cochran v. Eileen W. Norkunas

Summary

The court held that the parties' letter of intent was not an enforceable contract because its language objectively showed that they intended to execute a later standard form contract before being bound. The later contract also was unenforceable because the seller never communicated acceptance to the buyers or otherwise manifested assent before repudiating the transaction. The court therefore affirmed the intermediate appellate court's judgment and denied specific performance.