legal sanctity of MOU


what is the legal sanctity of MOU? what are the remedies for breach thereof? what are the implications of MOU on taxes? what kinds of taxes may be imposed on the basis of terms of the MOU assuming the MOU relates to a service contract / agency contract?

 
Reply   
 
Lawyer in Hyderabad.wats app no.9989324294

MOU is simply document. It is bind only agreement between the parties. As per the legal agreement only tax matters falls.
 
Reply   
 



thank you very much for your instant response.


Radha Pyari.S.

 
Reply   
 

thank you very much for your instant response.


May I know where you are practicing?


Radha Pyari.S.

 
Reply   
 

MOU has no legal enforceability. It is just a mutual consent / understanding over an issue that has been reached between the parties and reduced into writing on a piece of paper. An agreement / deed entered into between the parties on the basis of the MOU can only be enforceable and can be adduced as an evidence before a court of law. 

 
Reply   
 

Thank you very much for your immediate response. I am really happy that professionals of varied disciplines are instantly interacting on several issues.


Radha Pyari.S,


 

 
Reply   
 
Advocate

Generally MoU HAS no legal binding force since it is not a concluded contract but it s not so that mou alwz loses its binding force.


it depends upon case to case.


if there has been some consideration paid and the parties have acted forth in relation to the same, court may consider it as a binding one.


 

 
Reply   
 

thanks all of you for your quick response to my query.
Radha Pyari. > 

 
Reply   
 
advocate/legal consultant

thaks for the information.

 
Reply   
 
Advocate

Memorandum of Understanding is nothing but  - A written proposal  or the statement (oral or written) of an exchange of promises between the parties to the Memorandum and the legality of the same will arise when anything which is agreed is acted contrary by either of the party thereto.  

 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

  Search Forum








×

Menu

Post a Suggestion for LCI Team
Post a Legal Query
CrPC MASTERCLASS!     |    x