Dictionary of Law
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franchise :: legal definition


Franchise - 1) n. a right granted by the government to a person or corporation, such as a taxi permit, bus route, an airline's use of a public airport, business license or corporate existence. 2) n. the right to vote in a public election. 3) v. to grant (for a periodic fee or share of profits) the right to operate a business or sell goods or services under a brand or chain name. Well-known franchise operations include McDonald's, Holiday Inns, Ace Hardware, Rexall Drug Stores, and Amway Distributors. 4) n. the right one has to operate a store or sell goods or services under a franchise agreement, as in "we have the Taco Bell franchise in our town." 5) adj. referring to a "franchise tax" which is placed on businesses (especially corporations) for the right to conduct business, as distinguished from a tax on property, income or profits tax.


Related Law Terms

agent for acceptance of service :: n. states require that a corporation name an actua ... corporations. See also: corporation
bank :: n. 1) an officially chartered institution empowere ... erred to as "in bank" or "en banc."
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
basis :: n. the original cost of an asset to be used to det ... ssistance. See also: adjusted basis
Bill of Rights :: n. the first ten amendments to the federal Constit ... ved to the states or to the people.
blue sky laws :: n. laws intended to protect the public from purcha ... e sky." See also: corporation stock
capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange
cartel :: n. 1) an arrangement among supposedly independent ... Colombia. See also: antitrust laws
civil rights :: n. those rights guaranteed by the Bill of Rights, ... ill of Rights civil civil liberties
close corporation :: n. a corporation which is permitted by state law t ... mily members. See also: corporation
common stock :: n. stock in a corporation in which dividends (payo ... oration preferred stock share stock
company :: n. any formal business entity for profit, which ma ... s a corporation. See also: business
conflict of interest :: n. a situation in which a person has a duty to mor ... a position adverse to the customer.
consign :: v. 1) to deliver goods to a merchant to sell on be ... or by order of a bankruptcy judge.
constitutional rights :: n. rights given or reserved to the people by the U ... e also: Bill of Rights constitution
constructive notice :: n. a fiction that a person got notice even though ... personally. See also: constructive
copyright :: 1) n. the exclusive right of the author or creator ... plagiarism public domain trademark
corporation :: n. an organization formed with state governmental ... ation public corporation securities
dealer :: n. anyone who buys goods or property for the purpo ... ins taxes by buying other property.
doing business :: v. carrying on the normal activities of a corporat ... oration operating within the state.
exchange :: 1) v. to trade or barter property, goods and/or se ... ins tax. See also: delayed exchange
foreign corporation :: n. a corporation which is incorporated under the l ... tate or Whoopee's designated agent.
franchise tax :: n. a state tax on corporations or businesses. See ... sinesses. See also: corporation tax
fraud :: n. the intentional use of deceit, a trick or some ... audulent conveyance intrinsic fraud
general partner :: n. 1) usually one of the owners and operators of a ... ted partnership partner partnership
goodwill :: n. the benefit of a business having a good reputat ... an unknowing buyer. See also: sale
immunity :: n. exemption from penalties, payments or legal req ... ws. See also: governmental immunity
incorporate :: v. 1) to obtain an official charter or articles of ... te by reference incorporation stock
interest :: n. 1) any and all, partial or total right to prope ... nal property real property standing
invasion of privacy :: n. the intrusion into the personal life of another ... randeis. See also: right to privacy
invitee :: n. a person who comes onto another's property, pre ... ail employees. See also: negligence
joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title
libel :: 1) n. to publish in print (including pictures), wr ... libel per se public figure slander
license :: 1) n. governmental permission to perform a particu ... eement. See also: licensee licensor
limited partnership :: n. a special type of partnership which is very com ... mited liability partner partnership
literary property :: n. the writings of an author which entitles him/he ... as copyrighted. See also: copyright
martial law :: n. a system of complete control by a country's mil ... n and women. See also: military law
monopoly :: n. a business or inter-related group of businesses ... ust laws license restraint of trade
non-profit corporation :: n. an organization incorporated under state laws a ... harity corporation cy pres doctrine
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
officer :: n. 1) a high-level management official of a corpor ... deputy sheriff or federal marshal.
offshore corporation :: n. a corporation chartered under the laws of a cou ... nds in accounts out of the country.
partner :: n. 1) one of the co-owners and investors in a "par ... ner limited partnership partnership
partnership :: n. a business enterprise entered into for profit w ... partnership partner silent partner
patent :: 1) adj. obvious. Used in such expressions as a "pa ... patent infringement patent pending
permit :: 1) v. to allow by silence, agreement or giving a l ... f public revenue. See also: license
preemptive right :: n. the right of a shareholder in a corporation to ... also: corporation shareholder stock
preferred stock :: n. a class of shares of stock in a corporation whi ... on stock corporation dividend stock
privacy :: n. the right to be free of unnecessary public scru ... lso: public figure right to privacy
public easement :: n. the right of the general public to use certain ... lso: easement prescriptive easement
public utility :: n. any organization which provides services to the ... nder state laws. See also: monopoly
reorganization :: n. the implementation of a business plan to restru ... also: bankruptcy corporation merger
securities :: n. generic term for shares of stock, bonds and deb ... ee also: bond debenture share stock
service by publication :: n. serving a summons or other legal document in a ... perty. See also: service of process
service of process :: n. the delivery of copies of legal documents such ... by publication substituted service

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - F

face amount :: n. the original amount due on a promissory note or ... rein, without calculating interest.
face value :: n. in shares of stock, the original cost of the st ... on the certificate, or "par value."
fact :: n. an actual thing or happening, which must be pro ... dge if he/she sits without a jury).
fact finder (finder of fact) :: n. in a trial of a lawsuit or criminal prosecution ... n facts. See also: question of fact
factor :: n. 1) a salesman who sells in his/her own name on ... ing that contributes to the result.
failure of consideration :: n. not delivering goods or services when promised ... n. See also: consideration contract
failure of issue :: n. when someone dies leaving no children or other ... ildren or other direct descendants.
fair comment :: n. a statement of opinion (no matter how ludicrous ... amation libel public figure slander
fair market value :: n. the amount for which property would sell on the ... so: appraise appraiser market value
fair trade laws :: n. state laws which permit manufacturers or produc ... state constitutions in many states.
fair use :: n. the non-competitive right to use of copyrighted ... for a royalty. See also: copyright
false arrest :: n. physically detaining someone without the legal ... sment. See also: false imprisonment
false imprisonment :: n. depriving someone of freedom of movement by hol ... for damages. See also: false arrest
false pretenses :: n. the crime of knowingly making untrue statements ... orm of theft. See also: fraud theft
family :: n. 1) husband, wife and children. 2) all blood rel ... ting this economic and social unit.
family purpose doctrine :: n. a rule of law that the registered owner of an a ... riving his/her car with permission.
federal courts :: n. the court system which handles civil and crimin ... rans' appeals. See also: bankruptcy
federal question :: n. one basis for filing a lawsuit in federal distr ... ves the federal court jurisdiction.
Federal Tort Claims Act :: n. a statute (1948) which removed the power of the ... diction to federal district courts.
fee :: n. 1) absolute title in land, from old French, fie ... See also: attorney's fee fee simple