A Memorandum of Understanding (MoU) is a legally non-binding written agreement between two or more parties. MoUs are considered formal contracts that set the foundation of the terms between the associated parties. This method is commonly used in business transactions and personal affairs relating to financial or legal-related matters.
Memorandum of Understanding (MoU)
Defenition: A Memorandum of Understanding (MoU) is a legally non-binding written agreement between two or more parties.
