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In this tutorial, attorney Brian Russ explains the concept of a Memorandum of Understanding (MOU). He clarifies that MOUs are generally viewed as non-binding agreements that express the intent of parties to discuss or collaborate on specific matters. However, he cautions against the misconception that labeling a document as an MOU automatically makes it non-binding. An MOU can still be a binding contract if it includes the essential elements of a contract, such as mutual assent, offer and acceptance, consideration, and capacity. Therefore, the title alone does not determine the legal nature of the agreement, and attention should be paid to its content.
