Ann: NH3 & Angel CCS Project Sign MoU for WAH2 Project, page-19

MOU's are genrally a document that precedes a contract. It's strange this needs to be articulated. In any event, this MOU is a positive step forward. To assist with the education process please see below care of AI. Hopefully this assists with the apparent lack of understanding.

An MOU (Memorandum of Understanding) is a written agreement between two or more parties that outlines their intentions, expectations, and responsibilities, often for collaboration or partnership. It's generally a non-binding agreement, meaning it doesn't have the same legal weight as a contract, but it serves to clarify the terms of a potential agreement before a formal contract is drawn up.

Here's a more detailed breakdown:

Purpose:

MOUs are used to establish a shared understanding between parties about a specific project, collaboration, or partnership.

Non-binding:

MOUs are not legally enforceable, meaning that if one party doesn't uphold its end of the agreement, the other party can't sue them.

Formal but not legally binding:

While not legally binding, MOUs are still formal documents that outline the parties' intentions, roles, and objectives.

Precursor to contracts:

MOUs can serve as a first step in a process that may eventually lead to a more formal and legally binding contract.

Common use cases:

MOUs are commonly used in areas like business partnerships, research collaborations, government agreements, and other situations where parties want to outline their intentions before formalizing a contract.

Relationship to MOAs:

While MOUs are non-binding agreements, Memoranda of Agreement (MOAs) can be more formal and binding.