MEMORANDUM OF UNDERSTANDING (MOU) IS NOT A BINDING AGREEMENT(CONTRACT).* Daily Law Tips (Tip 502) by Onyekachi Umah, Esq., LLM. ACIArb(UK)

Agreement(Contract) is very different from a Memorandum of Understanding (MOU). There are never the same and as such it is very dangerous to misuse/misunderstand them. Their relevance, powers, binding nature and even acceptability in courts and business transactions vary. AGREEMENT (CONTRACT) is a BINDING understanding between two or more persons while a MEMORANDUM OF UNDERSTANDING …

MEMORANDUM OF UNDERSTANDING (MOU) IS NOT A BINDING AGREEMENT(CONTRACT).* Daily Law Tips (Tip 502) by Onyekachi Umah, Esq., LLM. ACIArb(UK) Read More »