I need an explanation for this Business question to help me study.
Imagine you are a senior manager in a U.S. manufacturing firm, procuring component parts and services from various states.
- What is required for a valid contract? Per the Chapter reading, explain contract formation and differences pursuant to common law versus the Uniform Commercial Code. Why is it important to distinguish and identify which applies in business?
- Using the Strayer University legal research tool (see the link in Announcements), research one breach of contract case involving two U.S. businesses this year (2020). Explain the facts of the case, the dispute, and the outcome or issue before the court. Post and show your source for information. Which party do you agree with and, why?