There Are Two General Types of Franchises

question 303

Multiple Choice

There are two general types of franchises:

• A)product-format franchises and distribution franchises.
• B)business-format franchises and manufacturing franchises.
• C)venture franchises and general service franchises.
• D)manufacturing franchises and venture franchises.
• E)business-format franchises and product-distribution franchises.

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Definitions:

Master Of His Offer

This implies that the individual making an offer has complete control over the terms until it is accepted.

Offeror

The party in a contractual agreement who presents an offer to another party (the offeree) to enter into a contract, which may be accepted or rejected.

Formal Contracts

Legally binding agreements that are required to be in writing, often solemnized by the presence of certain formalities.

Under Seal

A legal term indicating that a document or case is officially confidential and not to be made public without authorization.