Replies to post #300990 on Plastic2Oil Inc (PTOI)

[ThePennyGuru]

The master agreement is a document agreed between two parties that sets out standard terms that apply to all the transactions entered into between those parties. Each time that a transaction is entered into, the terms of the master agreement do not need to be re-negotiated and apply automatically.

Sounds to me like these transactions will be an on going thing beyond what was 8k'd.

[Renz]

An Agreement is of binding nature, whereas a MoU is binding upon the parties if the memorandum is signed in exchange for monetary consideration. Since no money was exchanged, it was not binding.
Conclusion: If the parties do not want any legal binding upon them, they can go for MoU without exchanging money.

jaxstraw
Re: ThePennyGuru post# 300989
Post #300990 of 300990

Huge difference between a MOU and a Master Agreement

Neither is binding and neither has a monetary exchange.

So what makes up this huge difference ?