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What is a Memorandum of Understanding (MoU) & Is It Legally Binding?” – Because Handshakes are Cool, But Documents Rule! π€π️π ✨Client Question: "Sir, we’ve discussed a business deal. Should we draft an MoU before signing the final agreement?" ✅ Answer: Yes! A Memorandum of Understanding (MoU) is a document that outlines the intent and terms between parties before a formal agreement is signed. It’s like an engagement before the marriage contract ! ππ π What’s in an MoU? ✔️ Project intent & responsibilities ✔️ Preliminary terms & conditions ✔️ Timeline & expectations ✔️ Confidentiality clauses ✨ Benefits of an MoU: ✔️ Helps avoid future misunderstandings ✔️ Serves as a strong reference for final contract ✔️ May have limited legal enforceability depending on wording ✔️ Builds mutual trust with legal clarity #MoUIndia #BusinessAgreements #CorporateLaw #LegalDrafting #PreContractStage #PartnershipDeals #BusinessNegotiation π “MoUs are li...
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