Memorandum Of Understanding: A Detailed Overview


Task: Provide a brief note on the Memorandum of understanding.


Definition of Memorandum of Understanding
The Memorandum of Understanding contains the bilateral or multilateral agreement reached by many parties. The various parties involved in line with the Memorandum of Understanding decide the uniform and common status of action. The parties involved in the Memorandum of Understanding are not subject to any legal constraints, therefore the agreement cannot be contested in front of a court or other judicial authority. The Memorandum of Understanding may also be referred to as the gentleman's agreement.

The Memorandum of Understanding specifies a clear framework of respect for how the parties' desired interaction or relationship will be carried out (Currier et al., 2016). The document clearly refers to the particular job and the pay associated with relinquishing it.

The Memorandum of Understanding must guarantee the following conditions.

• The main goal of the agreement and implied aim throughout the duration. • Clearly identifying the involved parties.

• A succinct summary of the agreement's specifics

• All parties involved should sign the presentation.

The Memorandum of Understanding has a very broad public audience on a global scale. It was evident how frequently it occurred in the context of world politics. The inclusion of a memorandum of agreement would provide the parties with tangible benefits when participating into international treaties (Murthy, 1990). When sensitive matters are the focus, the secrecy requirement should be upheld. Confidentiality, however, could not be guaranteed in the case of a political treaty.

The characteristics that distinguish a Memorandum of Understanding from an Agreement

The matters covered by a Memorandum of Understanding define the boundaries of legal obligations. The same characteristic basically distinguishes a contract from an MOU. The language in the Memorandum of Understanding could be seen as a little confusing and deceptive because its substance is not legally infallible. Before the jury, a memorandum of understanding could not be referred to as a valid contract (Badawy, 2010). Although the engaged parties had the right to request reimbursement or payment for services rendered under the MOU, this right could not be enforced. The parties to the Memorandum of Understanding were not permitted to pursue legal action against one another for the breach of the agreementThe MOU document may, in some circumstances, take the place of the legal agreement. Although the clauses in the MOU are not legally enforceable, they are more strict and useful in the real world of gentleman's agreement. The information provided in the Memorandum of Understanding may be deemed comparable to and analogous to the letter of purpose in cases of private law. In the letter of intent document, it is stated that the purpose is to demonstrate the parties' desire in engaging in a specific activity. Additionally, it is not enforceable under the rules of law.

The parameters of an agreement are usually quite varied, and in order for it to be legally enforceable, both the binding agreement and the acceptance of it must be stated unambiguously. Any of the involved parties would face a court trial if they broke any provisions of the contract or agreement.