Evaluate the Legal Aspects of Procurement

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http://www.procurement-academy.com/procurement-competences/legal-issues-in-procurement/
http://corporate.findlaw.com/law-library/federal-government-contract-overview.html
https://www.law.cornell.edu/wex/contract
http://www.law.harvard.edu/programs/olin_center/papers/pdf/323.pdf

Evaluate the legal aspects of procurement. Focus on the basis of contract law, agency law, the Uniform Commercial Code (UCC), and the Federal Acquisition Regulations (FAR). Analyze and summarize the company's position in relation to the copier vendor and how the position will be supported by understanding the legal aspects of procurement. Analyze and summarize how the project manager will be supported by the contracting management function.

Procurement is legally defined as the business process wherein businesses' must identify business needs, specify what is required to meet and fulfill these business needs, identify suppliers that can potentially supply these business needs, solicit bids and proposals and subsequently evaluate these bids and proposals, award contracts or purchase orders, track progress of these orders while ensuring that the business complies with regulations and laws, take delivery, inspect and inventory the deliverable items, and finally pay the supplier. All of these issues must involve contracts between the business and different entities. Therefore, it's imperative for companies to understand contract law, and the most important facet of any contract is understanding what elements ensure that a contract is legally binding.

Contracts must first obtain an offer from one party, which represents the willingness for the party to contract on a defined set of terms in which if the offer is accepted, the offeror will be bound by the contract as will the person that accepts the offer. The person ...