In the context of franchising, briefly discuss the Franchise Disclosure Document (FDD).
What will be an ideal response?
Answers will vary. The Federal Trade Commission (FTC) requires franchisors to provide potential franchisees with a document known as a FDD. This long, complex document (covering 23 separate major topics and sometimes running well over 100 pages) can be an invaluable source of information about virtually every aspect of the franchise arrangement.The FDD must provide contact information for at least 100 current franchisees. (If the franchisor has fewer than 100 current franchisees, it must list all of them.) This gives a potential franchisee the ability to contact other franchisees and ask them about their experiences with the franchisor. The FTC requires the FDD to be written in plain English rather than in the complex legal jargon that often characterizes such documents. Under FTC rules, the franchisor must give the franchisee at least 14 calendar days to review the FDD before the franchise agreement can be signed. A careful study of the FDD can go a long way toward ensuring that the franchisee makes an informed decision.
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Randy Quince has leased an apartment in the Charlton Arms complex. The landlord changes the air filters in the apartment heating and air conditioning units on the first day of each month. On February 1, 2010, Randy is traveling for his job and no one has been at his apartment. Because Randy is traveling, the landlord has been unable to reach Randy. The maintenance company for the landlord is
given access to Randy's apartment to change the filter. A) The landlord has breached Randy's covenant of quiet enjoyment. B) The maintenance company has trespassed in Randy's apartment. C) Neither the maintenance company nor the landlord have done anything wrong in entering the apartment to replace the filter. D) Maintenance is not a sufficient reason to enter a tenant's premises without permission.
Reacting quickly to new information to gain a competitive edge is referred to as straight-through processing
Indicate whether the statement is true or false
Insurance companies use _____ to determine whom they will insure and what they will charge for the coverage.
A. Social Security survivor's benefits B. the needs analysis method C. underwriting D. risk assumption E. loss control
One reason hotel managers should conduct post-convention meetings is to compare actual attendance with projections. All of the following situations would be seen as problems that should be avoided in the future except:
What will be an ideal response?