Ila
Asked July 06, 2013

What is a MoU ? How is it different from a contract ?

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What is a MoU ? How is it different from a contract ?

Answer 1

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Vatsal

MoUs are generally non-enforceable agreements between parties, who choose to draw up a common plan of action without indulging the legalities. It may be said to be a precursor to a contract in certain cases. Unlike contracts, MoUs don't confer substantial legal rights, however, they do record the intentions of the engaging parties. 

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