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Section In Agreement

The preamble shall indicate the name of the agreement, the date of its execution and the parties concerned. If the parties are enterprises, the preamble indicates the nature of the entity and the state of organization. The preamble contains a descriptive name such as “buyer” and “seller”, which refers to the parties in the rest of the document. The guidelines for reading a memorandum of understanding are essentially the same. These are usually not written in legal language and can be quite simple, so reading and understanding can be much easier. Even if it is not a legal document, a memorandum of understanding is a promise and should be treated in the same way by the signatories as a treaty: you should feel bound to it and, if you sign it, you should do everything in your power to enforce its conditions. .