Practical considerations in enforcing standards

Article Abstract:

Franchisees may not meet the franchise agreement standards in many aspects such as cleanliness or recordkeeping but underreporting sales is both common and difficult to prove. Franchisors must decide if the situation is worth the time and money to investigate and sue over because underreporting is hard to prove to a court's satisfaction. Evidence can be sought through the franchisee's records, possibly incomplete, or through surveillance. Possible remedies include cancelling the franchise contract, getting a court order to temporarily close the franchise or withholding franchise benefits.

Interpretation and construction, Exclusive dealing agreements

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NASAA proposes radical new approach to disclosure

Article Abstract:

The North American Securities Administrators Assn has released proposed revisions to the Uniform Franchise Offering Circular (UFOC) which will be submitted for adoption during the 1993 annual convention. The proposed changes affect UFOC items regulating disclosure by franchisors to franchisees of information including financing, income from franchise merchandise, advertising training and other expenses as well as renewal and franchise system information. The proposal also advocates the change from the use of narrative contract material to tabular format for simplification's sake.

Disclosure (Securities law), North American Securities Administrators Association

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FTC notice of proposed rulemaking offers guidance for electronic disclosure

Article Abstract:

The authors discuss the FTC electronic document rules applicable to presale franchisor disclosures.

United States, Laws, regulations and rules, Electronic records, Disclosure statements (Accounting)

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