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Enforceable by Law
Mutual understanding between parties
In India Memorandum of Understanding (MOU) is also known as the Letter of Intent in which two parties conclude a decision. It is a type of Agreement entered when two or more parties have agreed on such terms and conditions to enter into a contract, but the contract is yet to be negotiated and finalized.
MOU is made when two or more parties are at the initial stage of discussion outlining the rights and obligations of the parties with whom agreement is to be entered. It is used as an indicator to check the intention of the parties transacting before a deal is officially signed and executed between them and it doesn't grant either of them any rights and can also be kept confidential, if desired.
It cannot be constituted legally and is not enforceable by law but is a non-legally binding MOU which may be useful serving as an agreement between two or more departments within a single public entity.
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