Ask HN: Break a Signed MOU
2 comments
What's your advise in this case?
The same as any case involving legal matters - talk to a qualified attorney who is licensed to practice in your state. This gets complicated because an MOU may or may not be a legally binding contract, depending on some details[1]. And knowing all the ins and outs of those details is exactly what actual lawyers get paid for.
[1]: https://en.wikipedia.org/wiki/Memorandum_of_understanding
The same as any case involving legal matters - talk to a qualified attorney who is licensed to practice in your state. This gets complicated because an MOU may or may not be a legally binding contract, depending on some details[1]. And knowing all the ins and outs of those details is exactly what actual lawyers get paid for.
[1]: https://en.wikipedia.org/wiki/Memorandum_of_understanding
IANAL but I don't think an MOU is a contract.
Consult a lawyer
Consult a lawyer
A friend of mine joined an incubator program, signed their MOU basically restricted them to leave if the incubator decide to select their team.
Their team was selected to get investment, no further documentations was signed.
But they realized the deal wasn't that good and wanted to leave. People in the incubator didn't agree, said they either quit without touching the project in 6 months, otherwise would be sued
What's your advise in this case?
Thank you!