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Delete Symbols from the Memorandum Of Understanding

Delete Symbols from the Memorandum Of Understanding

Aug 6th, 2022

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How to Delete Symbols from the Memorandum Of Understanding

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In this video, attorney Brian Russ explains a Memorandum of Understanding (MOU). He defines an MOU as a generally non-binding agreement that indicates the intent of parties to discuss collaboration. However, he cautions that simply labeling a document as an MOU does not prevent it from being a binding contract if it contains all contract elements like mutual assent, offer, acceptance, consideration, and capacity. Therefore, one should be careful in assuming that an MOU can't be a contract just because of its title. He recommends understanding the underlying elements before using an MOU.

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