Per the FARs, define what a contract is, and explain the elements of a contract. What is the difference between “Common Law” and “Administrative Law”? Why do we have a contract negotiation process?

Contract

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?

A few helpful links:

https://myclassroom.apus.edu/content/enforced/44588-467154/Week_2_Intro_To_Contracting.doc?_&d2lSessionVal=sTqD7q4cnXdc5c0WGL1kUAHzU

https://myclassroom.apus.edu/content/enforced/44588-467154/Week2_Intro_To_Contracting.ppt?_&d2lSessionVal=sTqD7q4cnXdc5c0WGL1kUAHzU