Differnce B/W Memorandum of Understanding & Agreement

sairasiddiqui (Querist) 04 March 2009 This query is : Resolved
Differnce B/W Memorandum of Understanding & Agreement

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Saira Bano Siddiqui
Student CA-Final

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PALNITKAR V.V. (Expert) 04 March 2009
MOU is also a kind of agreement relating to some future transactions. It is a preliminary agreement between parties who agree to do certain acts in future. Kindly go to the file section where you will find useful material about this. Our friend learned Mr. Aejaz has already given information about this in reply one query posted by another.

Manish Singh (Expert) 05 March 2009
yes, mr. palnitkar is right. generally the mou is drafted so that to help the paries while getting into the final agreement considering all understaings between the parties. generally mou possess no binding force, except evidentary value, since it lacks consideartion.
bt soemtimes parties do get into mous in such a way that they get into transactions (including consideration) under the mou so iut becomes legally binding upon the parties.

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