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Remove Option Field to the Memorandum Of Understanding

Remove Option Field to the Memorandum Of Understanding

Aug 6th, 2022

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How to Remove Option Field to the Memorandum Of Understanding

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In this video, attorney Brian Russ discusses Memorandums of Understanding (MOUs), emphasizing that they are generally intended to be non-binding agreements reflecting the parties' intent to collaborate or discuss matters. He warns against the misconception that labeling a document as an MOU automatically makes it non-contractual. He clarifies that if an MOU includes the essential elements of a contract—mutual assent, offer, acceptance, consideration, and capacity—it may still be legally binding, regardless of its title. Therefore, it is crucial to examine the content and terms of the agreement rather than relying solely on the label.

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