What is a Memorandum of Understanding in mediation?
A Memorandum of Understanding is a written document that outlines the agreements reached by parties during the mediation process. This can be concerning a dispute relating to a child, or the settlement of financial matters on divorce.
A Memorandum of Understanding is not a legally binding document. The parties must still seek legal advice on the terms of the agreement, and have the agreement reached incorporated into a legal document, such as a Consent Order.
A Memorandum of Understanding is an important document. It shows a commitment between the parties, and is the first step to creating a legally binding agreement.
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