McDonald's, Subway, and Jiffy Lube Are All Examples of ________

question 73

Multiple Choice

McDonald's, Subway, and Jiffy Lube are all examples of ________.

• A) voluntary chains
• B) retailer cooperatives
• C) franchises
• D) category killers
• E) power centers

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Definitions:

Mutual Assent

refers to the agreement between parties in a contract, shown by a valid offer and acceptance, which is required for a contract to be enforceable.

Valid Consideration

Valid Consideration is a necessary component of a legally binding contract, involving something of value exchanged between the parties involved.

Adequate Consideration

Something of value that is deemed by law to be sufficient grounds for enforcing a party's obligation under a contract.

Legal Detriment

The loss or disadvantage that a party agrees to suffer within a contractual agreement which gives value to the contract.