Memorandum of Understanding on the Acquisition of Toys and Allied Matters

THIS MEMORANDUM OF UNDERSTANDING (“MOU”) is made this 20th day of January 2018

BETWEEN

MAMA K (hereinafter called “MAMA”) a Mother resident in Nigeria of the one part

And

BOY K (hereinafter called “SON”) of the other part, collectively referred to herein as the “Parties”

WHEREAS

A. Mama controls the purse strings.

b. Son is enticed by the advertisements of toys on television and other electronic media.

c. The parties understand that given other needs in life, it is necessary to establish rules for the acquisition of new toys and for such other allied matters.

d. In furthering the balance between available resources, wants and needs, the Parties now wish to record their understanding.

NOW, THEREFORE, the Parties agree as follows:

1. Request for toys can not exceed an amount to be agreed by the Parties at every instance.

2. Son is not entitled to and should not expect to receive any new toy advertised on television or other electronic media.

3. Destruction of Son’s property by Son will lead to sanctions and the denial of at least 3 (three) requests for toys made by Son.

4. In case of the Destruction of any of Mama’s property by Son, Son will forfeit one or more or all of Son’s toys.

5. Son will trust Mama on the mechanics and workings of any toy. There will be no need for Son to dismantle said toys to investigate their inner workings. Mama’s words, based on a reading of the instructions enclosed with said toys and/or Mama’s own personal experience and recollection from Mama’s childhood shall be sufficient in establishing the proper use of said toys.

6. Toy requests in excess of the sum agreed upon as stated in Clause 1 above shall be denied. However, Mama has the discretion to review the sum and may fund any excess from Son’s savings, with the express consent of Son.

7. Where Son requests a new toy and Son owns the same or similar toy, such requests will be denied.

8. At the end of each day, Son shall put away all toys in the place designated for storing Son’s toys. Failure to do so may lead to forfeiture of toys offending this requirement.

9. Son shall apportion reasonable reading time each day. Mama reserves the right to confiscate some or all toys, pending the determination of Son’s reading efforts.

10. Son shall relinquish possession and title over toys that Son has outgrown and if the said toys be in good condition, the Parties shall donate same for the benefit of other children.

11. This MOU may not be amended, varied or terminated except with the prior written agreement of the Parties.

12. This MOU shall constitute the entire agreement between the Parties relating to the subject matter hereof.

IN WITNESS of which the Parties have executed and delivered this MOU in the manner below the day and year first above written. SIGNED, SEALED AND DELIVERED BY THE PARTIES.

(Signed)

Mama K

(Signed)

Boy K