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In this tutorial, attorney Brian Russ explains the concept of a Memorandum of Understanding (MOU). He defines an MOU as a non-binding agreement that outlines the intent of the parties to discuss or collaborate on a certain matter. However, he cautions that simply labeling a document as an MOU does not automatically make it non-binding. If the document contains the essential elements of a contract—mutual assent, offer, acceptance, consideration, and capacity—it may still be enforceable as a binding contract. Therefore, it's important to be aware that an MOU can potentially have legal implications despite its informal title.