Quiz 1

A  Identification of Who is authorized to modify the contract

B  Length of time the contract prices exists.

C  all the above

D  Deposit and Cancellation policies

A  TRUE

B  FALSE

A  TRUE

B  FALSE

A  Management Operating Contracts

B  Franchise-related Contracts

C  all the above

D  Meeting Space Contracts

E  Group Lodging Contracts

A  TRUE

B  FALSE

A  TRUE

B  FALSE

A  Verbal or nonverbal agreement

B  all the above

C  Agreement in writing

D  Acceptance of partial or full payment

E  Acceptance of a deposit

A  Consideration

B  Offer

C  Acceptance

D  all the above

A  FALSE

B  TRUE

A  FALSE

B  TRUE

A  all the above

B  Owner-Operator

C  Management Contract

D  Franchise

E  Condo Hotels/Shared Services

A  Limited Partnership

B  all the above

C  Sole Proprietorship

D  General Partnership

E  C Corporation

A  FALSE

B  TRUE

A  FALSE

B  TRUE

A  all the above

B  Equal Employment Opportunity Commission (EEOC)

C  Food and Drug Administration (FDA)

D  Internal Revenue Service (IRS)

E  Occupational Safety and Health Administration (OSHA)

A  Be aware of the major entities responsible for regulation.

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

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

D  Understand how to resolve conflicting regulations.

E  all the above

A  FALSE

B  TRUE

A  TRUE

B  FALSE

A  Is it fair?

B  Would I publicize my action?

C  all the above

D  Is it legal?

E  Am I being honest?

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

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

C  all the above

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