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Describe the two types of franchising systems, explain how they differ, and give an example of each.
Near Privity Rule
A legal concept that extends liability for breach of warranty to individuals who may not be in direct contractual relationship but are close enough to the transaction to be considered in "near privity."
Accounting Liability
Financial obligations or debts that a business entity is legally responsible for and are recorded on its balance sheet.
Reasonably Foreseeable Users
Reasonably foreseeable users are individuals or entities that could be expected to use or be affected by a product or information, based on its intended purpose.
Accountant Liability
The legal responsibility accountants have to their clients and third parties, regarding the accuracy of financial statements and audit reports.
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