Common Contracts
1 similar Letter of Understanding (Lou) contracts
Letter of Understanding (LOU)Letter of Understanding (Lou) • September 24th, 2013
State Law prohibits contracts between Universities of the State System of Higher Education. Since all universities are PASSHE universities, any exchange between them should be treated as an internal transaction. These transactions are memorialized in the format of a “letter of understanding.” Such writings differ from standard contracts in the following ways:
