A memorandum of understanding (MOU) describes a legal document used to describe a bilateral agreement between parties.
A memorandum of understanding (MoU) is a sort of agreement between two (bilateral) or greater (multilateral) events. It expresses a convergence of will among the events, indicating an intended common line of movement. It is often used either in cases wherein events do now not imply a criminal commitment or in situations in which the events can not create a legally enforceable agreement. It is a greater formal opportunity for a gents' agreement.
Whether or not a file constitutes a binding contract depends only at the presence or absence of properly-defined prison factors in the text proper of the document (the so-called "four corners"). TThe required elements are provided acceptance, attention, and the aim to be legally sure (animus contrahendi).
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