Document background
The Simple MOU is a widely used document in Nigerian business and institutional relationships, serving as an initial step in establishing formal collaborations. It is particularly valuable in situations where parties wish to document their mutual understanding and intentions before committing to a fully binding agreement. The document typically includes details about the proposed collaboration, roles and responsibilities, and basic terms of engagement, while maintaining flexibility in its binding nature. Under Nigerian law, while MOUs are generally considered less formal than contracts, they can still create certain legal obligations if properly drafted. This document type is especially useful for cross-border relationships, public-private partnerships, and situations where parties need to establish clear communication and understanding of their shared objectives while working out the details of a more comprehensive agreement.
