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In this tutorial, attorney Brian Russ discusses memorandums of understanding (MOUs). He defines MOUs as typically non-binding agreements that signify the intent of the parties to discuss collaboration. However, he warns against the misconception that labeling a document as an MOU makes it inherently non-binding. The existence of certain elements—such as mutual assent, offer, acceptance, consideration, and capacity—can render an MOU a binding contract, regardless of its title. Therefore, he advises careful consideration of the content and context of an MOU, rather than relying solely on its label.
