Given that a contract must be accepted to bind the parties, and given that the terms of a memorandum of understanding are often so broad as to preclude this level of acceptance (they are often called agreements to agree), why are memorandums of understanding so commonly used? This article explores that seeming paradox, and details when you might want to use a memorandum of understanding in your business dealings.
- Summary by FizzLaw Team
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Boilerplate Blurb and Draw the Law: Tying it Together, Using a Memorandum of Understanding