The assumptions underlying the computation of interaction energy among several atoms, and especially of activation energies, have been analyzed and discussed for the case of small overlapping of the one-electron wave functions involved. Some formal justification has been found for several types of approximation which have hitherto been used without adequate examination. Computations of the energy of several three-electron systems are presented as material illustrating the applicability of some of the assumpIions to typical cases. It is concluded that in general any modification of the complete Heitler-London treatment of the system may lead to errors comparable in magnitude to the quantity to be computed. The so-called "semi-empirical method," which involves many such modifications, owes its success to a happy cancellation of errors, and, until some theoretical explanation of this cancellation is found, it must assume the status and responsibilities of a purely empirical method.