Learn when you should use a memorandum of understanding.
A memorandum of understanding is an agreement that communicates a union between two or more parties. The MOU indicates activity for the common good of the parties. MOUs are often used in situations where parties don’t involve a legal commitment or can’t create a contract that can be legally enforced. This white paper compares MOUs and other similar documents and discusses when to use an MOU and whether or not an MOI is binding.
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