Replies to post #191338 on PCT Ltd (PCTL)

[aandt]

Yes correct, MOU's are not legally binding, but they do carry weight, especially in international business. It's an important step and is worth announcing, especially since there is a cash investment involved and it provides an update on forward progress with the spot drilling. I have some experience in international business, in many countries an MOU is quite close to a contract, I recognize that in the US it's not often thought of that way. The fact that cash is involved shows that it is serious IMO.

You can think of a memorandum of understanding as a way for all parties to express that they agree to proceed with their mutual goals. An MOU indicates that the parties have reached an understanding and are ready to move forward. Though an MOU is not legally binding, it serves as a serious declaration that a binding contract is imminent.

On the scale of formal agreements, a memorandum of understanding is less formal than a contract but more formal than a handshake. A memorandum of understanding may sound a lot like a contract, but there are significant differences. For example, a contract is a private written agreement, and unlike an MOU, it is legally binding and enforceable by a judge.

https://www.contractscounsel.com/t/us/memorandum-of-understanding

[Smokenjoe1]

Interesting thoughts and beliefs...

Lol

https://www.bloomberg.com/press-releases/2022-04-10/lake-and-ford-sign-non-binding-mou-for-lithium-offtake

Ford Company must be incompetent...