The Law That Has Been Derived from Cases and Made

question 2

Multiple Choice

The law that has been derived from cases and made by judges is known as:

• A) Common law
• B) Statute
• C) Contract law
• D) Tort law

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Definitions:

Federal Franchise Rule

A regulation established by the Federal Trade Commission that requires franchisors to provide full disclosure of material facts to prospective franchisees.

Contract Law

The body of law that governs agreements, obligations, and remedies between parties.

State Law

Legislation enacted by individual states that governs within the state's boundaries, as opposed to federal law which governs at the national level.

Franchise Relationships

Legal and commercial bonds formed between a franchisor and franchisee, where the franchisor licenses its trade name and operations model to the franchisee.