Allgemeines zu Alexz » Memorandum Of Understanding

MOU is not a duty that can be imposed by statute. It is generally used for a contract that is not binding. If an MoU was drawn for consideration, such as money exchange, etc., the agreement would become binding on the parties, otherwise, memorandum of understanding would be a non-binding contract. Provisions such as the authority clause, applicable law, compensation would have contractual consequences on the contract.

what this Mou is all about? kindly explain

So Nice i really like it