Managing Contract Issues in Business” Please respond to the following:
- 1. Imagine you are a senior manager in a U.S. manufacturing firm who procures component parts and services from various states. What is required for a valid contract and what might put your company at risk if not sufficiently scrutinized prior to signing a contract. Explain contract formation and differences pursuant to Common Law versus the Uniform Commercial Code. Why is it important to distinguish and identify which applies?
- 2. Research one (1) breach of contract case involving a U.S. company and the application of Contracts for the International Sale of Goods (CISG) within the last 3 years. Explain the facts of the case, the dispute and the contract law that the court applied and why. Please be sure to include your source and citation for your case.