Quiz 1

A  all the above

B  Identification of Who is authorized to modify the contract

C  Deposit and Cancellation policies

D  Length of time the contract prices exists.

A  FALSE

B  TRUE

A  TRUE

B  FALSE

A  Meeting Space Contracts

B  all the above

C  Franchise-related Contracts

D  Group Lodging Contracts

E  Management Operating Contracts

A  FALSE

B  TRUE

A  TRUE

B  FALSE

A  all the above

B  Acceptance of a deposit

C  Agreement in writing

D  Verbal or nonverbal agreement

E  Acceptance of partial or full payment

A  Acceptance

B  Offer

C  all the above

D  Consideration

A  FALSE

B  TRUE

A  TRUE

B  FALSE

A  Management Contract

B  all the above

C  Owner-Operator

D  Condo Hotels/Shared Services

E  Franchise

A  Limited Partnership

B  Sole Proprietorship

C  C Corporation

D  all the above

E  General Partnership

A  FALSE

B  TRUE

A  TRUE

B  FALSE

A  Equal Employment Opportunity Commission (EEOC)

B  Occupational Safety and Health Administration (OSHA)

C  Food and Drug Administration (FDA)

D  Internal Revenue Service (IRS)

E  all the above

A  all the above

B  Be aware of the major entities responsible for regulation.

C  Understand how to resolve conflicting regulations.

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

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

A  FALSE

B  TRUE

A  FALSE

B  TRUE

A  Am I being honest?

B  all the above

C  Is it fair?

D  Is it legal?

E  Would I publicize my action?

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

B  all the above

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

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