Uncategorized

What Is A Mou Agreement

A letter of intent is an expression of consent to continue. This shows that the parties have reached an agreement and are moving forward. Although it is not legally binding, it is a serious explanation that a contract is imminent. A common role of memoranda of understanding is a “pre-contractual agreement” in which previous agreements are recorded and are subject to the future conclusion of a contract. Here`s a guide to what you need to know about memoranda of understanding. But even in international situations, memoranda of understanding are not binding. They are considered a kind of soft law, which means that they are weaker (less enforceable) than traditional “hard” laws, but still provide evidence of both parties` intention to comply with an agreement. .