is not a function of insurance? a)Lending Funds b) Risk sharing c) Capital formation d) Protection of life . Which of the following in not applicable in insurance contract? a) Unilateral contract b) Conditional contract c) Indemnity contract d) Inter-personal contract commerce - - .
. PM . FRANCHISING A. Meaning and definition One of the key components of success of any business lies in its ability to reach out to customers at local, national and global level.
Franchising has often been used as a method for expanding domestic market and for entering international markets. A wide variety of goods and services are now made available to customers using this model. Franchising is used by businesses for marketing and distributing products and services. According to International Franchise Association a franchise is a “ continuing relationship in which the franchisor provides a licensed privilege to do business, plus assistance in organising training, merchandising and management , in return for a consideration from the franchisee.