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In this 60-second law segment, attorney Brian Russ explains the concept of a Memorandum of Understanding (MOU). He clarifies that MOUs are typically intended as non-binding agreements that reflect the parties' intent to discuss potential collaborations. However, he warns that simply labeling a document as an MOU does not exempt it from being legally binding. If the elements of a contract—mutual assent, offer, acceptance, consideration, and capacity—are present, the MOU could indeed be enforceable. Therefore, he advises caution when entering into these agreements, as they may carry legal obligations despite their label.