Leg500 Law And Ethics DiscussionQuestion Description DiscussionImagineyou are a senior manager in a U.S. manufacturing firm who procurescomponent parts and services from various states. What is required for avalid contract and what might put your company at risk if notsufficiently scrutinized prior to signing a contract? Explain contractformation and differences pursuant to common law versus the UniformCommercial Code. Why is it important to distinguish and identify whichapplies?Research one breach of contract case involving two U.S. businesses within the last 2 years. Explainthe facts of the case, the dispute, and the outcome if the caseresolved. Post an article or another source to help explain the case andshow your source for information.