As we have been saying, the only delegate vote that ever took place regarding the WC&C contract was on a four page MOU on August 22, 2012, which we believe is not a formal contract. The March 12, 2013 agreement submitted to judge Berman has never been submitted to the delegate body for a ratification vote.
Below is a video explaining how formal or legally binding is a Memorandum of Understanding (MOU).
When an MOU is Legally Binding
ReplyDeleteIn order for an MOU to be enforceable in court, it must contain the essential contract elements. Courts have held that a “valid contract requires a person able to contract, a person able to be contracted with, a thing to be contracted for, a sufficient consideration, clear and explicit words to express the agreement and the assent of both contracting parties.” Another important element is the “parties’ intent to be bound, i.e., whether there was a “meeting of the minds” regarding the material terms of the transaction.
Even if an MOU includes a clause that defines it as “interim” or indicates that a “final agreement will follow,” a court may nevertheless determine that it is legally binding if it also contains all of the essential contract elements.
However, if the MOU is “merely a memorialization of preliminary negotiations” and essential terms are missing, the memorandum will most likely be found not to be legally binding. If the parties make plain that they do not intend to be bound, meaning that they do not intend the MOU to be legally enforceable, the MOU will mostly likely not considered a contract.
DROP DEAD UNITY TEAM !
ReplyDeleteOh Dennis its all falling apart your Lil Buddy Mike is knocked out. Say goodbye Murphy billable hours. Mike your time is at hand its not if its when. I think I got a headache honey wheres my midol?
ReplyDelete