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Per the FARs, define what a contract is, and explain the elements of a contract. Additionally, what is the difference between Common Law and Administrative

Per the FARs, define what a contract is, and explain the elements of a contract. Additionally, what is the difference between "Common Law" and "Administrative Law"? Finally, why do we have a contract negotiation process?


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Definition of a Contract per FARs According to the Federal Acquisition Regulation FAR a contract is defined as a mutually binding legal relationship obligating the seller to furnish supplies or servic... blur-text-image

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