Almost All Franchising Agreements Are Set Up for a Specified

question 9

Multiple Choice

Almost all franchising agreements are set up for a specified term,generally from

• A)five to twenty years
• B)one to six years
• C)twenty to forty years
• D)ten to thirty years

---

Definitions:

Chapter 13

refers to a part of the U.S. Bankruptcy Code that enables individuals with a regular income to develop a plan to repay all or part of their debts.

Chapter 7

A provision of the bankruptcy code that provides for "liquidation," whereby a debtor's assets are distributed to creditors.

Repayment Plan

A structured schedule agreed upon for paying back borrowed money.

Security Interest

An official right or charge on property pledged as security, often for the purpose of loan repayment assurance.