Hi, When we did a MOU we had not put in any specific dates or time frames for getting into a main agreement, now we see that the party is not showing much interest on the investment. How can this be addressed and also is there any time frames for a MOU to be valid in general. This was written on a 50 rupee stamp paper, no notary or no registration done...please help
You should send legal notice asking the other parties to act upon the MOU till a specific date other wise MOU will be at risk, cost and consequences of the other party. If it is on a stamp paper it will be considered as undervalued stamp paper however as regards unregistered documents you will not be able to produce the same in any court of law but on cancellation or denial from your side let the other party to approach the court and you raise all these question before competent court of law.