Originally Posted by
DaveReidUK
It doesn't have to specify that - it's taken as read that either party can walk away from a LoI without any obligations (apart from stuff about confidentiality, etc).
Mmmmm no lawyer I but I believe that they have been taken to have created a contract in the past. A quick google shows some case law to that effect in the US and UK. I expect IAG have passed their legal bill for drafting this to Boeing