MOU

Abbreviation fo "Memorandum of Understanding." A document which, if meeting the other criteria, can be, in law, a contract . Generally, in the world of commerce or international negotiations, a MOU is considered to be a preliminary document; not a comprehensive agreement between two parties but rather an interim or partial agreement on some elements, in some cases a mere agreement in principle, on which there has been accord. Most MOU's imply that something more is eventually expected.