The MOU: Not All 1st Dates Lead To Marriage

Law360, New York (November 9, 2010, 12:27 PM EST) -- Imagine that a U.S.-based energy company known as JiltCo issues an optimistic press release announcing the execution of a memorandum of understanding between itself and the government of Breezeland, a developing island nation.

Under the terms of the MOU, which is nonbinding, the parties agree to work together to construct a large offshore wind project that will provide energy to the citizens of Breezeland. However, the MOU does not obligate either party to negotiate with each other to execute any further agreements or to complete the...
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