HMGT 4244 TEST 2 QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026

HMGT 4244 TEST 2 QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 A contract has to be in writing to be enforceable by the courts - Answers False A valid contract needs consideration flowing to both parties - Answers True It is the responsibility of the courts to decide the relative fairness of consideration - Answers False Acceptance of an offer must mirror exactly the terms of the offer in order for the acceptance to make the contract vaild - Answers True The UCC is the acronym for the law regulating purchasing agreements which give protection to buyers seller and financial lenders when good are purchased under contract - Answers True What are the 3 requirements under the UCC? - Answers 1) Sales more then $500 must b win writing 2) Sellers must provide goods that are not defect and should meet the standard that are stated in the contract 3) Buyer has right to inspect goods and notify the seller right away "Consideration" in the hospitality industry is often? A) Money B) Sue of property C) The promise to act or not act D) All of the above - Answers D The best way for a hotelier to indicate acceptance of an offer is? A) Verbal or non-verbal agreement B) Acceptance of a deposit C) Acceptance of partial or full payment D) Agree to the offer in writing - Answers D The latin phrase "Caveat Emptor" in the hospitality industry refers to? A) The burden of determining the quality and price of a product falls to the buyer B) The burden of determine the quality and price of a product falls to the seller C) The burden of determining the quality and price of product is decided by the courts D) There is no burden to determine the quality and price of a product - Answers A Caveat emptor - Answers Buyer beware The Uniform Commercial Code require you to? A) Contribute to the cost of your employees uniforms B) Ensure that all of your establishment's commercials contain a similar theme and logo C) Fulfill any promises made in a punching or sales contract D) To place "wholesales" identity code on all products received in the event that a problem arises in the future - Answers C "Capacity to contract" means? A) The building has enough space to house the purchases product or service B) The individuals creating a contract must meet minimum age, mental, and physical requirements in order to make the contract legal C) The business must not receive more contract than it is capable of fulfilling D) The parties must contract according to the limitation of the law - Answers B All contacts, whether verbal or written, must be for a legal purpose and in order to be enforceable, must consist of an offer, acceptance and consideration - Answers True Which of the following is one of the Eight steps to follow when entering into contracts? A) Always rely on a verbal agreement B) Make sure to skim through the entire contact C) Discard copies of all contract documents D) Use good faith when negotiating contracts - Answers D 8 steps to entering a contact - Answers 1) Get it in writing 2) Read the contact thoroughly 3) Keep copies of all contact documents 4) Use good faith when negotiating contracts 5) Note and calendar time deadlines for performance 6) Ensure the performance of third parties 7) Share contract information with those who need to know, and educate staff on the consequences of contract breach 8) Resolve ambiguities as quickly and fairly as possible Mediation - Answers a process in which an appointed, neutral 3rd party (mediator) assists those involved in a dispute with resolving their differences Statue of limitations - Answers Various laws that set maximum time periods in which lawsuits must be initiate. Breach of contract - Answers when somebody is not meeting terms of contract and violating it Breach of contract remedies - Answers - Suit for specific performance - Liquidated damages - Economic loss - Alternative dispute resolution Force majeour - Answers greater force - a natural of human - induced disaster through no fault of the parties to the contract that causes a contract not be performed Which of the following is not a advantage when purchasing a franchise? A) Obtain a proven concept B) National name recognition C) National advertising support D) Sensitivity to menu items for local clientele - Answers D Attrition - Answers reduction in the number of projected participants or attendees Which of the following represents a fee that is ordinarily paid by the franchisee to the franchisor? A) Franchise fee B) Earning percentage (royal fee) C) Advertising participation (marketing fee) D) All of the above - Answers D Exculpatory clause, seek to put blame on on the hospitality operator in certain situations - Answers False Indemnification means to make one whole, to reimburse to a loss already incurred - Answers True Which of the following is a major element of management agreements? A) Incentives fees earned or penalties assessed related to operating performance B) Insurance requirements of the management company (who must carry the insurance and how much) C) The control if any that the owner has in the selections or removal of the business's management personnel D) All of the above - Answers D A management agreement is the legal agreement that defines the responsibilities of a business owner and the management company chosen to operate the owner's business. - Answers True One of the most important components of conference services contacts is the language used to establish and assign responsibility for the group's ______. A) Room size B) Master Bill C) Food and beverage order D) None of the aboce - Answers B Master bill - Answers A single bill that established for a group that includes specifically agreed - on a group charges. Attrition refers to the amount of downward variance that may be permitted in a contract before some type of penalty is incurred on the part of the guest - Answers True A well-developed group lodging contact will include detailed language about a variety of items including how room rates will be calculated if the contract is signed prior to the establishment of the group's final room rates - Answers True Which government agency regulates unfair or deceptive trade practices in the offering of franchises? A) Federal Trade Commission B) Department of Franchise Offerings C) Department of Justice D) Attorney General - Answers Federal Trade Commission Which of the following is a review of land records to determine the ownership and description of a piece of real property? A) Title Search B) Deed C) Grant D) Public Domain - Answers A