3 ms·
That term sheets are not binding is technically correct (the best kind of correct, I'm told). But it should be so reputationally bad that it should only happen
by Zigurd 7y ago
That term sheets are not binding is technically correct (the best kind of correct, I'm told). But it should be so reputationally bad that it should only happen among third tier players and wannabes who don't have reliable limiteds.
- jacquesm 7y agoI've had a VC walk out on a signed terms sheet due to 9/11. I didn't like it but totally understood their motivations and it's hard to enforce a terms sheet. Still, it was less than classy and I would not attempt to do business with them again.