The better way is to obtain legal advice and document any agreement carefully, expressly setting out whether the agreement is intended to be binding, and if so, at what point, and on what terms.The proposed Agreement-in-Principle will be submitted to the Algonquin Voters for a Ratification Vote. The end result is that an “agreement in principle” may not be enforceable. So what does this all mean? If you reach an “agreement in principle”, you might have generally agreed to terms but probably not to a final and binding agreement (unless specifically stated otherwise).
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