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Replace Line from the Memorandum Of Understanding

Replace Line from the Memorandum Of Understanding

Aug 6th, 2022

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How to Replace Line from the Memorandum Of Understanding

5 out of 5

9 votes

In this video, attorney Brian Russ discusses Memorandums of Understanding (MOUs), explaining that they are generally intended to be non-binding agreements that indicate the parties' intent to collaborate or discuss specific matters. He cautions that many believe labeling a document as an MOU means it cannot be a contract, but this is misleading. An MOU can still be enforceable if it contains the essential elements of a contract, such as mutual assent, offer, acceptance, and consideration. Russ advises being cautious and understanding that an MOU could potentially result in a binding contract despite its title.

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