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In this video, attorney Brian Russ discusses the concept of a Memorandum of Understanding (MOU). He explains that MOUs are generally considered non-binding agreements that express the intent of parties to engage in discussions or collaborations. However, he cautions that labeling a document as an MOU does not prevent it from being a legally binding contract. If the document includes the necessary elements of a contract—such as mutual assent, offer and acceptance, consideration, and capacity—it may still be enforceable. Therefore, Russ advises careful consideration when drafting and interpreting MOUs to avoid confusion regarding their binding nature.