IN-CLASS ASSIGNMENT (Week 4) Please complete the in-class assignment by 11:00 am today. Please answer the following questions and post in the reply stream and share your answers with the class: 1.) Why and when to companies need contracts? 2.) What are the main contract types? 3.) What are the advantages and risks of a fixed price contract and a based contract? 4.) What is the best scenario to use fixed-price or cost based contract. 5.) Please research Contract Law and Tort Law, please discuss each and discuss the differences between the two types of laws. 6.) In the contract process you will have an offer, acceptance and consideration, please research and discuss the process of an offer, acceptance, and consideration in the negotiation process. 7.) Please discuss Breach of Contract and provide examples when a contract is breached. 8.) Please research and Discuss Restitution in regards to damages and remedies of a contract. 9.) Please discuss the concept of reliance and the requirements of the defended in regards to the agreement. 10.) Please research and discuss consequential damages and provide an example.