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What’s the Difference Between MOU and Agreement?” – Because Not Every Handshake Needs a Stamp Paper! 🤝📃😄 ✨Client Question: "Sir, should I sign an MOU or a formal agreement? What’s the actual difference?" ✅ Answer: Great question! Let’s break it down simply 👇 👉 MOU (Memorandum of Understanding) is like a friendly promise — it outlines intentions and broad terms but may not always be legally enforceable . 👉 Agreement is a formal contract — legally binding with all essential clauses, duties, and liabilities covered under the Indian Contract Act, 1872 . 📌 MOU = Planning stage 🤔 📌 Agreement = Action stage 💪 🔍 When to use what? ✔️ Use an MOU for early-stage discussions, collaborations, joint ventures, or partnerships. ✔️ Use an Agreement for final commitments involving money, timelines, penalties, or deliveries. #MOUvsAgreement #LegalDifference #IndianContractAct #BusinessContractsIndia #StartupLegalBasics #DraftingAgreements #LegalTipsIndia 😂 “MOU ...
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