Doctor Caitlin

there are many markets with opportunities for business owners. One market is the government market, which has four segments: federal, state, cities, and counties. One of the largest government market segments is the federal segment. The main regulation for the federal segment is the Federal Acquisition Regulation (FAR). Spend some time exploring the Federal Acquisition Regulation website. (Links to an external site.)

Navigate to FAR Part 52 in the table of contents on the FAR website. Review Solicitation Provisions and Contract Clauses.

Next, navigate to number 2 in the table of contents and look up the federal government definition of a contract. In your own words, write a comparative analysis of the textbook definition of a contract and the FAR definition of a contract. Support your opinion of what definition is the best.