1) All franchise agreements include terms that give the franchisor final say in site selection

Select one:

True

False

2) The general rule for disaffirmance of a contract by a minor is the disaffirmance may only take place after the minor reaches his or her majority.

Select one:

True

False

3) A local Burger King restaurant is an example of which kind of franchise?

Select one:

a.A manufacturing arrangement franchise.

b.A distributorship franchise

c.A chain-style business operation.

d.A processing-plant arrangement.

4) Which of the following elements must be established to create implied-in-fact contract?

Select one:

a.

The plaintiff provided the property or services gratuitously.

b.

The plaintiff made the defendant sign the contract and then changed its terms, calling the new terms "previously implied."

c.

The defendant was given an opportunity to reject the property or services provided by the plaintiff but failed to do so.

d.

The defendant accepted the property or services offered by the plaintiff as a fee for an illegal activity.

5) Ghazi made an offer to Yacob to sell his house for $1 million. The offer was received by Yacob on the 1st of May, and Yacob stipulated that he had 13 days to accept. But Yacob could not arrange the money, and on 16th May, he made a counteroffer to Ghazi to buy the house for $850,000. Which of the following is true about the original offer made by Ghazi to Jacob?

Select one:

a.It is terminated by the counteroffer

b.It is invalid due to lapse of the stated time.

c.it is still valid as the house has not been sold.

d.It is invalid due to incompetency of the offeree