Marty's, a Clothing Company, Has a Number of Outlets That

question 38

Multiple Choice

Marty's, a clothing company, has a number of outlets that are owned and managed by private individuals. These outlets are allowed to use the brand name and products of Marty's after paying a fee to the company. They also pay a part of their revenues to Marty's. The upfront payment these outlets make to Marty's for using the Marty's brand name is referred to as a(n) :

• A) acceptance fee
• B) acknowledgement fee
• C) franchise fee
• D) royalty fee
• E) establishment fee

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Definitions:

Equitable Relief

A type of legal remedy, including injunctions or specific performance, that requires a party to act or refrain from acting, rather than to pay damages.

Irreparable Harm

Damage or injury that cannot be adequately remedied by money damages and therefore often justifies a court's granting of injunctive relief.

Materially Breached

Pertaining to a serious violation or failure to perform one’s duties under a contract that justifies the other party's right to terminate the agreement.

Substantially Breached

A significant failure to fulfill one's duties under a contract, which justifies the other party's right to terminate the agreement and seek damages.