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MoU Agreement Format: 

A Memorandum of Understanding (MoU) is a legal document entered by two business entities, parties seeking to engage in collaborative endeavors such as product sharing, joint ventures, cross-selling, and platform sharing. Executed by the involved parties upon reaching a mutual understanding post the agreement on the business activity, an MoU serves as a foundational framework for their collaboration.

Legality of Memorandum of Understanding under Indian Law: Under Indian Law, the Indian Contract Act of 1872 is the principal legislation governing contracts. Section 10 of the Act stipulates that agreements made by competent parties of their own free will, for a lawful consideration and object, are legally binding contracts.

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