A(n) ________ Is Established When One Party Licenses Another Party

question 75

Multiple Choice

A(n) ________ is established when one party licenses another party to use the first party's trade name, trademarks, commercial symbols, patents, copyrights, and other property in the distribution and selling of goods and services.

• A) proprietorship
• B) franchise
• C) implicit contract
• D) general partnership

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Definitions:

Clearing

The process of reconciling purchases and sales of various options, futures, or securities, as well as the direct transfer of funds from one financial institution to another.

Refuse To Honor

The act of not accepting, acknowledging, or fulfilling an agreement, request, or instruction.

Enough Money

Implies having sufficient funds to meet needs, obligations, or desired goals without financial strain.

Sue

The act of bringing a legal action against an individual or entity to seek redress or enforcement of rights.