memorandum of understanding

Intermediate ⚖️ Legal

Definition

A document outlining an agreement between parties that may or may not be legally binding, depending on who you ask and how expensive their lawyer is. It's the legal equivalent of a pinky promise, with slightly more formality.

Example Usage

The two companies signed a memorandum of understanding to explore a potential merger, though neither was fully committed yet.

Origin

Emerged in diplomatic and business contexts in the early 20th century as a less formal alternative to binding contracts

Fun Fact

Courts have split on whether MOUs are enforceable contracts, leading lawyers to joke that MOU stands for 'Memorandum of Uncertainty.'

Source: Common legal terminology

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⚖️ Legal

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