LOi

Loi is a word of French origin meaning 'law'. In French legal terminology, loi denotes a statute enacted by the legislative branch. It is a core concept in civil law and is used to distinguish statutory law from customary law and administrative regulations. The term derives from Old French loi, which itself traces back to Latin lex through medieval usage. Legal systems typically distinguish between different categories of loi, such as loi ordinaire (ordinary law) and loi organique (organic or constitutional law).

In many jurisdictions, a law begins as a bill, known as a projet de loi or proposition de loi, and must be debated, amended, and passed by the legislature before being promulgated by the head of state and published in an official gazette or journal to take effect.

LOI is also a widely used acronym in English for Letter of Intent, a document that records the preliminary understanding between parties about a proposed transaction. A LOI typically outlines the principal terms, such as subject matter, price or consideration, and timeline. Most LOIs are non-binding on the substantive terms, but may create binding obligations on specifics like confidentiality, exclusivity, or governing law, depending on the wording and governing law. The enforceability of a LOI varies by jurisdiction and by the precise language used.

The meaning of 'loi' therefore depends on context: as a French word for law, as a legal concept in statutes, or as an acronym in business documents. Both uses share a common association with formal governance, agreement, and regulation.