A Hotel That Is Owned by One Company and Operated

question 31

Multiple Choice

A hotel that is owned by one company and operated by another is an example of _________________.

• A) individual ownership
• B) a franchise
• C) a management contract
• D) a REIT

---

Definitions:

Specific Performance

A legal remedy requiring a party to execute a contract according to the precise terms agreed upon, rather than paying damages for failing to do so.

Unique Goods

Items that are rare, one of a kind, or have distinctive qualities making them of special interest.

Remedy At Law

Legal means to enforce a right or redress a harm, typically involving monetary compensation rather than equitable relief.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, aiming to harmonize the law of sales and other commercial transactions across American states.