"The purpose of this document is to memorialize certain business points. The parties mutually acknowledge that their agreement is qualified and that they, therefore, contemplate the drafting and execution of a more detailed agreement. They intend to be bound only by the execution of such agreement and not by this preliminary document"
Goren v. Royal Investments Incorporated, 25 Mass. App. Ct. 137, 519 N.E. 2d 595 (1987)