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In this video, attorney Brian Russ discusses the concept of a Memorandum of Understanding (MOU), clarifying that it is generally viewed as a non-binding agreement that reflects the intention of the parties to discuss potential collaboration. However, he warns that just labeling a document as an MOU does not prevent it from being legally binding. If the document contains the essential elements of a contract—mutual assent, offer, acceptance, consideration, and capacity—it may still constitute a binding contract regardless of its title. He advises caution and a thorough understanding of the document’s content to ensure clarity on its legal implications.
