Chapter 3 Prompts 1. Describe three defining characteristics for each of the six

Chapter 3 Prompts
1. Describe three defining characteristics for each of the six types of organizational structures described in Chapter 3. What are the major factors that should be considered when legally forming a new business entity? Include specific details from Chapter 3 of the textbook, interpreted in your own words.
2. Explain the concept of fiduciary responsibility and ethics as they relate to the general manager of a hospitality, recreation or tourism operation. Include specific details from Chapter 3 of the textbook, interpreted in your own words.
Chapter 4 Prompt
1. Discuss the major components required for a contract to be enforceable and legally valid. Give hospitality or recreation examples of “capacity” and “legality” coming into question (use details from Chapter 4 of your textbook to support your statements).
Chapter 5 Prompts 
1. Discuss in detail at least five essential contract clauses that protect a hotel when contracting to provide space and food products for a large wedding party. Draw information in your own words from Chapter 5 to support your statements.
2. Describe the Franchise Rule and the six different requirements imposed by the Franchise Rule. Draw information in your own words from Chapter 5 to support your statements.
3. Explain the various arrangements discussed in Chapter 5 under which management companies operate businesses. As a hospitality or recreation professional, why is it important to understand how management companies are structured and managed? Use information in your own words from Chapter 5 to support your statements.
To earn points, submit well-developed postings before the due date. Apply details, lessons, and examples from the chapter in every posting. Use your own words – with no direct quotes.