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The noblest pleasure is the joy of understanding. The noblest pleasure is the joy of understanding. - Leonardo da Vinci. Where there is shouting, there is no true knowledge. - Leonardo da Vinci. You can have no dominion greater or. less than that over yourself. - Leonardo da Vinci. A well-spent day brings happy sleep.
Proper Use of Letter of Intent or Memorandum of Understanding. A memorandum of understanding is an agreement between two parties often used in the course of contract negotiationst. Depending on how it is drafted, it may or may not be fully binding in the way that a contract is. Sometimes, a letter of intent is used instead of a memorandum of understanding. A letter of intent expresses an interest in performing a service or taking part in an activity, but does not legally obligate either party. Common abbreviations of LOI for letter of intent and MOU for a memorandum of understanding. In some cases, depending on the exact wording, memorandums of understanding can have the binding power of a contract. As a matter of law, contracts do not need to be labeled as such to be legally binding.