Isla is an executive at a large corporation that is currently working on merging with another corporation. Final regulatory approval is still needed, but could be more than a year away. In the meantime, the two companies have created a business partnership agreement to start working on certain projects together. They have also created an agreement that is not legally binding to define each of their roles in a new project. Which of the following is most likely the agreement they created?
A) SLA
B) OLA
C) MOU
D) DRP

Question

Quizplus · Accepted Answer

An MOU (Memorandum of Understanding) is typically used to define a "gentleman's agreement" between parties, outlining their roles and intentions in a project without creating a legally binding contract. This fits the scenario where the companies want to start collaborating on a new project while awaiting regulatory approval for their merger.

Isla Is an Executive at a Large Corporation That Is