Most Types of Contracts Are Valid Without Being Written

question 21

True/False

Most types of contracts are valid without being written.

Understand the processes and strategies for franchise system growth, including the development of target audiences and marketing programs.

Understand the concept of target audience segmentation in marketing.

Comprehend the core aspects of the Franchise Relationship Model (FRM).

Identify franchisor functions within the Franchise Relationship Model.

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Definitions:

Explicitly Colludes

A situation where companies or individuals openly agree to work together, often illegally, to manipulate prices or markets.

Price-and-quantity-fixing

Practices by which firms set the price and output levels to control market conditions, often regarded as anti-competitive.

Collusion

A secret or illegal cooperation or conspiracy, especially between firms, to deceive or gain an unfair advantage.

Demand Curve

The Demand Curve depicts the relationship between the price of a product and the amount of it that consumers are willing to purchase at various prices, usually sloping downward from left to right.