Overtures
Overtures are informal approaches or preliminary proposals made to open negotiations, for example an expression of interest in buying a business. It is an ordinary business word rather than a legal term, and an overture usually creates no binding obligations.
How BC law treats it
Whether a preliminary communication is binding depends on whether the parties intended to be bound and agreed on the essential terms. Letters of intent often state which terms are binding, such as confidentiality and exclusivity, and which are not.
What it means for your business
When responding to an approach about a sale or partnership, sign a confidentiality agreement before sharing sensitive information.
Risks and common mistakes
A loosely worded letter of intent can be held binding, or can commit you to an exclusivity period you did not intend.
Browse the full Fulcrum Law Dictionary for related terms.
General information about British Columbia and Canadian law, current to October 2026. It is not legal advice.
