Liquidated Damages Provisions Normally Are Unenforceable

question 66

True/False

Liquidated damages provisions normally are unenforceable.

Learn about the potential advantages and disadvantages of entering into a franchise business.

Understand the roles and responsibilities of franchisees and franchisors within the franchise agreement.

Recognize the regulatory requirements and legal documents involved in franchising, such as disclosure documents.

Identify the financial implications and commitments for franchisees and franchisors, including understanding various sources of income and expenses in franchising.

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Definitions:

Facilitation Payment

A type of bribe made to expedite or secure the performance of a routine or necessary action to which the payer is legally entitled.

Utilitarian

A philosophy which suggests that actions are right if they are beneficial for the majority, emphasizing the greatest happiness for the greatest number.

Greatest Good

A principle in utilitarian ethics focused on actions that result in the greatest benefit or happiness for the largest number of people.

Cognitive Moral Development

A theory proposed by Lawrence Kohlberg that suggests people progress through different stages of moral reasoning as their cognitive abilities mature.