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Attorney Brian Russ discusses the concept of a Memorandum of Understanding (MOU), emphasizing that while MOUs are typically perceived as non-binding agreements reflecting the intent of parties to collaborate or discuss, they can still constitute a legally binding contract. The essential elements of a contract—including mutual assent, offer, acceptance, consideration, and capacity—apply regardless of the document's header. Therefore, even if an agreement is labeled as an MOU, it may still be enforceable as a contract if these elements are present. Russ recommends careful consideration when drafting or signing such documents to avoid misunderstanding their legal implications.
