An Unregistered Memorandum of Understanding got executed between Plaintiff and Defendant. I am for the Defendant which is a Registered firm dealing with real estate business. my question : 1. Is there any legal validity for Un-Regd. MOU in the eye of law (Courts) ? 2. If valid then will there be any limitation for the Un-Regd. MOU ?
The terms and conditions in the MOU are binding if signed by parties and registration won't matter . However for validity that too will be as per its terms. To terminate that just issue Legal Notice and dissolve the MOU
1. An MOU is at the most only a persuasive understanding document between the signatory parties and cannot be classified as a Contract or an Agreement, and hence CANNOT be registered and has nil legally enforceable value.
2. IF an MOU is registered in the guise of an Agreement, THEN it is legally valid perpetually till rescinded /revoked unilaterally, for failure to comply with the terms & conditions mentioned therein, by following due procedures of law.