Mou vs moa

Heena (Querist) 29 March 2015 This query is : Resolved
Please help me know the difference between MOU & MOA & how far MOU clause hold valids.

I started a venture with one of the partner & bough 50% equity of the company in 4.5 lakhs with 50,000 as working capital with the impression that 4.5 lakhs equity capital will be used for expansion of the company.

However now the partner says that that was the money I gaev to him & not for the company & I need to put in more money to share the expenses to take the product further.

I want to walk out of the project as operations have not yet started but he is not returning the money & saying that I gave to him - Please advise

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Devajyoti Barman (Expert) 29 March 2015
Without seeing the contents of MOU it is difficult to advise.
If there is any arbitration clasue, invoke the same.

Guest (Expert) 29 March 2015
I wonder, in what way you want to establish any link of MOA with a MOU!

However, any advice solely depends upon examination of the contents of the MOU.

Rajendra K Goyal (Expert) 29 March 2015
The documents need to be referred, consult local lawyer.

M/s. Y-not legal services (Expert) 30 March 2015
what you mean for MOA? you may consult your local lawyers along with sufficient documents..

T. Kalaiselvan, Advocate (Expert) 03 April 2015
There are lot of legal questions involved in this including the mode of payment, so better to consult a local lawyer and have his opinion on the basis of documents in this regard.

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