Read Chapters 11 and 12 on Contract Law
Answer and discuss the following:
- Given your understanding of the chapter reading on contract law, identify and explain the requirements and elements for a valid contract. Legally how is a contract formed and what are some similarities and differences between common law contracts versus the Uniform Commercial Code? Why is it important to distinguish and identify which applies when making a contract business decision?
- Using the NEXIS-Uni Legal Research Database below, find and provide one breach of contract case example within the last two years from your home state. Be sure to identify your state, explain the facts of the case, the parties to the lawsuit, the dispute and the outcome and remedies provided by the court. Provide whether you agreed with the court’s decision or not. Nexis-Uni link: https://libdatab.strayer.edu/login?url=https://www.nexisuni.com or https://research.strayer.edu