Romak3, excellent points. And, since MMTE is getting so close to the big event that will make us all rich, it might be important to refresh everyone on the legal basics. The following terms are important to look for, and should help everyone making investment decisions.
A letter of intent is a document outlining an agreement between two or more parties before the agreement is finalized. LOIs resemble written contracts, but are usually not binding on the parties in their entirety. LOIs are often referred to as gentlemen's agreements, or discussion sheets. It may be important to note that a letter of intent is considered a material event, and therefore requires public disclosure.
MMTE has not issued a letter of intent as of this date, but it may be coming any time now depending on the time zone.
A memorandum of understanding (MoU) is a document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action. It is often used in cases where parties either do not imply a legal commitment or in situations where the parties cannot create a legally enforceable agreement. It is a more formal alternative to a gentlemen's agreement.
In some cases depending on the exact wording, MoUs can have the binding power of a contract; as a matter of law, contracts do not need to be labeled as such to be legally binding. Whether or not a document constitutes a binding contract depends only on the presence or absence of well-defined legal elements in the text proper of the document. This can include express disclaimers of legal effect, or failure of the MoU to fulfill the elements required for a valid contract. A memorandum of understanding is also considered a material event, and thus requires public disclosure.
MMTE has not issued a memorandum of understanding as of this date, but this too may be coming any day now.
Other agreements may also apply, depending upon the country and which of the six forms of international law governs in that particular jurisdiction.
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