![]() ![]() ![]() In case of private law this memorandum of understanding is regarded as a letter of intent which means a document labeling the intentions of one party for their common interest towards the other. To understand the exact position and importance of this memorandum of understanding we should consider it in different law contents. Here is preview of this MOU Memo Template created using Microsoft Word, The type of the subject in each case may vary however the legal aspects of the document will remain more or less the same in order to make it a valid legal document in every case. The presence of all the well defined legal elements as that of a contract makes this document as well an important legal document and the document is separately designed depending upon the type of the common interests whether it is the goods that are to be a point of interest, the common services or some sort of the business loans or investments. However, the document legally owes the same importance and legal value as that of a formal agreement. This is generally taken as an informal form of an agreement in such cases where the parties do not enter into proper bilateral agreements. This document actually shows that both the parties are happy to join in the common line of action for their future perspectives. The document which is known as memorandum of understanding is an important legal document that is signed between the two parties which are entering into a common interest thus getting mutually agreed upon the common upcoming interests.
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