Memorandum Of Understanding Remove Checkmark For Free

In determining if the MOU represented a binding and enforceable contract between the parties, the Supreme Court differentiated what constitutes a valid contract in contrast to an invitation to treat, and held that for a contract to be binding, it must contain the basic elements of offer, acceptance, consideration and

Mou is not a legal document, it is an understanding reached on certain terms and condition to enter into an agreement.In your case, You can cancel the MOU as per the Termination Clause mentioned therein, return the part consideration which is the essence of the Contract.

Term of Memorandum 4.1. This MoU shall remain in effect for one (1) year from the date of signature. It may be terminated, amended or extended by a prior written agreement between both parties hereto. 4.2.

The answer might surprise you, even if a signed contract is not stamped, it is actually VALID under the law. Then why do we need to stamp it? Pursuant to section 52(1)(a) of the Stamp Act 1949, no instrument shall be admitted in evidence unless such instrument in duly stamped.

Sir MOU can be cancelled any time if it is not registered . and for the other party file the private police complaint .

As legal professionals, we are often asked if agreements which are not made on stamp paper are invalid and unenforceable. The answer is a simple 'NO'. Agreements may be made either in a stamp paper or a non-stamp paper.

# A MOU would be legally binding if the parties thereto agree to insert any such clause, the literal meaning upon reading of which would mean that such a MOU intends to create a legal relationship between the parties to the contract and that the breach of such provisions would mean the same as a breach of a contract