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In this video, attorney Brian Russ explains the concept of a Memorandum of Understanding (MOU). He clarifies that while MOUs are typically intended to be non-binding agreements reflecting the parties' intent to collaborate or discuss matters, they can still end up being binding contracts. The designation as an MOU does not guarantee that it lacks legal enforceability. If the document includes elements such as mutual assent, offer, acceptance, consideration, and capacity, it may constitute a binding contract despite its label. Therefore, caution is advised when drafting or signing an MOU.