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 business decisions?Using the NEXIS-Uni Legal Research Database, find and provide one breach of contract case example within the last five years in your home state.  Be sure to 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.comBe sure to respond to at least one of your classmates’ posts.Please be sure answers are researched, informed, and substantiated by citing sources used at the bottom of your discussion post.   See the Strayer Writing Standards link in BB for help following citation requirements.

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