MOU for purchase & sale of property

PrnBCRBant (Querist) 04 August 2010 This query is : Resolved
My client wants to purchase some properties & whereas the seller says he needs a Mou & not agreement to sell? Now what is the difference between the 2? can anyone provide me such MOU Format.
Thanks in Advance.

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s.subramanian (Expert) 04 August 2010
it is better that you enter into an agreement of sale. mou is not legally enforceable since it records only an understanding between the parties and not a full fledged agreement on the basis of the consensus-ad-idem.

Y V Vishweshwar Rao (Expert) 04 August 2010
I do agree with Mr Subramanian

The MOU is understading to sell & to purchse / and to comply certian things before actually entering in to sale agreement.

R.Ranganathan (Expert) 10 August 2010
MOU is an understanding to do things under certain contingencies. MOU can be enforced in Courts since it is binding on the parties concerned.

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