What does it Mean? A legal document outlining the terms and details of an agreement between parties, including each parties requirements and responsibilities.
Investopedia Says... 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.
I think this was already posted but here it is again.
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