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A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. A Memorandum Of Contract (MOC) or cooperative agreement is a document written between parties to meet an agreed upon objective. The purpose of an MOC is to have a written understanding of the agreement between parties. This is a template which can be used as a memorandum of contract for sale and purchase of property. The information in this template is designed to provide an outline that can be followed when formulating business or personal plans.