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Argyll

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Argyll

Re: plastipunk post# 998

Tuesday, 06/26/2007 11:18:52 AM

Tuesday, June 26, 2007 11:18:52 AM

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"Memorandum of Understanding - MOU

A legal document outlining the terms and details of an agreement between parties, including each parties requirements and responsibilities.

Notes:
The MOU is often the first stage in the formation of a formal contract. An MOU is far more formal then a handshake and is given weight in a court of law should one party fail to meet the obligations of the memorandum. "

http://financial-dictionary.thefreedictionary.com/Memorandum+of+Understanding+-+MOU
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