Mou

padma (Querist) 02 July 2013 This query is : Resolved
Sir,
My querry is what is an MOU, Whatis is its legality, how long is its validity. Whether it can be used in case of booking property and payment of advance.
Please reply.
Thanks
Padma

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prabhakar singh (Expert) 02 July 2013
There can not be a general OPINION about A MOU(memorandum of understanding)where parties agree to do something in future in a predecided manner.

Very many may be legally enforceable and very many may not be.

In property booking matters a close examination thereof would be required with reference to state laws.