ANALYSIS ASSIGNMENT UNIT 03a Online students submit this assignment to the online classroom Face-To-Face studentsyou should submit this assignment it Canvas as instructed; however, we will also discuss this assignment in class, with some of the total points awarded for your class participation in those discussions. REMINDER: you must be present in class to earn credit for in-class assignments.) Discussion in class may be prior to online submission or following online submission, depending how class discussion goes. After completing the assigned reading and any videos for Chapters 09-12, respond to the following: CONTRACTS: FORMATION & CLASSIFICATION Consider an example of a contract that you formed during the past month. * HINT: Don't make this assignment harder than it is. For purposes of learning/understanding, I suggest you start with a simple contract rather than using something more complicated. After reading the definition of a contract, you should understand that this does NOT have to be a formal document in writing. The purpose of this assignment is to discover how most of us enter into contracts almost daily, often without even realizing it. If you are having trouble thinking of a contract you have entered into recently, reach out to me with your ideas and I will help you brainstorm. 1) Identify the offer. Who made the offer and how did he/she make the offer? 2) Identify the acceptance. Who accepted the offer and how was it acceptedby return promise or performance? Explain. 3) Is your contract a bilateral or unilateral contract? Explain in one sentence. 4) Identify the consideration for each party. : 5) Is your contract an express or implied contract? Explain in one sentence. 6) Is your contract an executory or executed contract? Explain in one sentence. 7) Which law governs your contract: common law or UCC Article 2?7 Explain in one sentence