non-binding contracts

Non-binding contracts are written or verbal agreements that outline intentions or proposed terms but don’t create a legally enforceable obligation to perform. They’re often used for planning or negotiations, and typically allow either party to walk away without legal penalties unless a separate binding promise applies (like confidentiality).

Two professionals shaking hands over documents

What is a memorandum of understanding?

A memorandum of understanding (MOU) is a written agreement between 2 or more parties that outlines key terms and intended next steps. MOUs are usually non-binding but can become enforceable if they include clear commitments and required legal elements. This article explains what an MOU is, what it typically includes, and when you may need

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