memorandum. 1. An informal written note or record outlining the terms of a transaction or contract <the memorandum indicated the developer’s intent to buy the property at its appraised value>. • To satisfy the statute of frauds, a memorandum can be written in any form, but it must (1) identify the parties to the contract, (2) indicate the contract’s subject matter, (3) contain the contract’s essential terms, and (4) contain the signature of the party against whom enforcement is sought. — Also termed memorial; note. See STATUTE OF FRAUDS. [Cases: Contracts 32; Sales 28; Vendor and Purchaser 21. C.J.S. Contracts § 69; Sales §§ 68–73; Vendor and Purchaser§§ 24–25.] 2. An informal written communication used esp. in offices <the firm sent a memorandum reminding all lawyers to turn in their timesheets>. — Often shortened to memo. 3. A party’s written statement of its legal arguments presented to the court, usu. in the form of a brief < memorandum of law>. Pl. memoranda, memorandums.
[Blacks Law 8th]