Questions below refer to the following article.

A memorandum of understanding (MOU) is a document, usually prepared by a buyer or investor, which (1)............... in general terms a business agreement between two parties. (2)............... main purpose is to assure that the parties agree on the general terms of the deal. (3)............... of the time, it is not a legally binding commitment to buy, sell, invest, or cooperate. However, it does share with contracts certain provisions, such as confidentiality. Some business experts refer to the MOU as a "handshake in writing."