Quiz 1

A  Deposit and Cancellation policies

B  all the above

C  Length of time the contract prices exists.

D  Identification of Who is authorized to modify the contract

A  TRUE

B  FALSE

A  TRUE

B  FALSE

A  Franchise-related Contracts

B  all the above

C  Meeting Space Contracts

D  Management Operating Contracts

E  Group Lodging Contracts

A  TRUE

B  FALSE

A  TRUE

B  FALSE

A  Agreement in writing

B  Acceptance of a deposit

C  Verbal or nonverbal agreement

D  all the above

E  Acceptance of partial or full payment

A  all the above

B  Acceptance

C  Consideration

D  Offer

A  TRUE

B  FALSE

A  FALSE

B  TRUE

A  Franchise

B  Owner-Operator

C  all the above

D  Condo Hotels/Shared Services

E  Management Contract

A  all the above

B  C Corporation

C  General Partnership

D  Limited Partnership

E  Sole Proprietorship

A  TRUE

B  FALSE

A  FALSE

B  TRUE

A  Occupational Safety and Health Administration (OSHA)

B  all the above

C  Internal Revenue Service (IRS)

D  Equal Employment Opportunity Commission (EEOC)

E  Food and Drug Administration (FDA)

A  Understand how to resolve conflicting regulations.

B  Be aware of the process for responding to an inquiry or complaint from a regulatory entity.

C  all the above

D  Be aware of the major entities responsible for regulation.

E  Stay abreast of changes in regulations that affect your segment of the industry.

A  FALSE

B  TRUE

A  TRUE

B  FALSE

A  Is it legal?

B  all the above

C  Would I publicize my action?

D  Is it fair?

E  Am I being honest?

A  Laws have historical origins, and the manager needs to know them

B  It is possible to use the philosophy of preventive management to manage the legal environment and minimize the chances of litigation.

C  Laws have an evolutionary nature, based on changes in society.

D  all the above