Stock Purchase - Letter of Intent

Mr. _____________________ 4321 Main Street ___________, California 93000 Re: Stock Acquisition of ?ABC? Franchise Dear Mr. ____________________: This letter will confirm the basic terms upon which I would be interested in acquiring the issued and outstanding stock of your corporation (the ?Corporation?) which owns that certain ABC franchise located at 4321 Main Street, , (the ?Business?). If the terms outlined below are acceptable, please sign and return the enclosed duplicate copy of this letter to me. Except to the extent hereinafter expressly provided, this letter of intent only outlines the proposed transaction and is not intended to be a binding offer or agreement but, rather, is intended to set forth certain principal terms and conditions relating to the proposed transaction and to evidence our mutual intent to negotiate in good faith towards the execution of a definitive purchase agreement. The purchase price shall be a total of dollars ($ ) to be paid as follows: