Have you heard "MOU"?

[Maggie]

Have you heard “MOU”(Memorandum of Understanding) ? I think MOU is a kind of memo that two parties sign. If we have MOU, then we don’t need to concern what we have said on meeting or we forget it after a while. It’s a kind of contract but it’s not a contract. MOU is usually used in a formal condition, like governments, schools. Something like that. Am I right?

By the way, when you use MOU. Could you share it as well and see if I said if I say something wrong?

Please correct me if I write something wrong no matter English grammar or the meaning of MOU.

Maggie^^
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