Making Sense of the Franchise Agreement

When you buy a franchise business, you will have to sign a franchise agreement. This contract is what binds the franchisee and the franchisor together. It defines the relationship and in the case of a dispute this is the first document that will be examined and scrutinised to evaluate what promises were made, kept or broken by either the franchisee or franchisor. Seeing as how important the franchise contract is, it goes without saying that any potential franchisee considering buy a franchise, must get professional legal advice from a competent solicitor well versed in franchise terms and language. A well written franchise agreement will clearly define the scope of the relationship, the obligations and responsibilities of both parties and protect both parties’ interests. With the help of a good solicitor, make sure you clearly understand what your rights and obligations are with regards to: 1. Initial franchise fees and ongoing royalty and marketing fees 2. The marketing materials included within the initial package 3. The initial equipment and inventory included in the fee 4. The exact responsibilities of the franchisee 5. The exact definition and boundary of the territory 6. The duration of the contract 7. The renewal terms of the agreement 8. The initial and ongoing training programmes 9. The support and how it is delivered 10. How the franchisee can exit from the business 11. What happens in the case of illness or death of the franchisee? 12. Which suppliers the franchisee must use 13. Which products the franchisee can find their own suppliers for 14. The exact opening and closing hours 15. Use of logos, brochures,...

How to Make Your Prenuptial Agreement Hassle Free

Many couples planning to marry may have heard about pre-nuptial agreements and how one may protect their personal assets should they eventually divorce. But they may not know how to go about drawing one up, or be fearful about the potential hassle. The main way to avoid unnecessary bother and to ensure that the agreement would avoid any challenge in the divorce courts is by using the professional services of a solicitor. The idea behind a pre-nuptial agreement is that it will protect the assets that both parties take into the marriage, should the marriage fail or either individual subsequently die. For those reasons, it would be very sensible to consult a specialist solicitor when making a prenup. If you have a skilled solicitor draw up your pre-nuptial agreement it is more likely that it will stand up to a challenge from an unhappy spouse should you divorce, as well as being more likely that UK courts will accept it. In the current legal situation, English courts do not have to recognise prenups. But the appeal courts ruled in 2009 that they can be taken into account when the court is deciding on how the assets of a marriage should be divided. Although there is nothing to stop a couple producing their own prenup, having the advice of a lawyer will help make sure that it is more likely to be taken into account by the court. An experienced solicitor can also give advice on matters that the couple might not know about, such as the fact that prenups must be signed more than 21 days before the wedding...

Some Facts About Confidentiality Agreement Form

 It is very important to express confidentiality in many transactions, some of which do not even relate to any business. A confidentiality agreement form attaches the concerned parties and requires them perceive that it is entirely impossible for them to disclose the details of whatever is being talked, it is a legal document that created rules, regulations, obligations and responsibilties relating what should be kept secret and what ought not to be disclosed.   Where some ideas are shared with much different organization, it’s very important that some restriction be imposed on whether or not some information can be disclosed. Those people who have some interest in the concerned document are the only people who are suppose to access it and no third party should at any timer access it.   Listed in the confidentiality agreement form are the names of the persons or organizations entering the agreement? This information may be trade information. Financial, research or development information which may not be freely available to the entire public. Organizations spend huge amount in doing research and the information obtained should be preserved. Failure to have the information preserved will make it impossible to be used for long term since it will leak to the competitors.   This form carries the punishment that should be imposed when a breach of the existing terms occurs. It spells out the amount of damage that should be payable or the procedure that one party should d seek remedy. Since the form carries a lot of legal weight. It can b created in house by conversant people or the services of a lawyer...

when does an agreement become a contract?

A contract is an agreement which gives rise to obligationswhich are recognized by law. Thus, the course of dealings between the contracting parties would be governed by stipulations contained in the agreement which is enforceable if it is not repugnant to law of the land. Anson- A contract is an agreement enforceable at law made between two or more persons by which rights are acquired by one or more to acts or forbearance on the part of the other or others. Fredrick Polllock- Every agreement and promises enforceable by law is a contract. Salmond- Contract is an agreement, creating and defining obligations between the parties. Section 2(h) of Indian Contract Act 1872 defines- An agreement enforceable by law is a contract. Section 10 of Indian Contract Act 1872 defines- An agreement is a contract when it made forsome consideration, between parties who are competent, with their free consentand for a lawful object. The analysis of above definitions- A contract is an agreement the object of which is to create an obligation i.e. a duty enforceable by law. For example – if there is an agreement between A and B that A will make a furniture for B, and B will pay a Rs 1,000/ to A, the agreement is a contract. Section 10 defines a valid contract- 1.   All agreements are contract which are made by the- 2.   Free consent of parties. 3.   Competent to contract. 4.   A lawful consideration. 5.   With a lawful object. Thus every contract is an agreement, but every agreement is not a contract.  An agreement becomes a contract when...

The Usefulness of Room Rental Agreement Form

A room rental agreement form is a legal document that makes clear the duties, responsibilities and the expectations of the parties concerned in the contract that involves a room being rent out by one of the parties concerned to another. This form also ensures that everything has been clarified beyond doubt hence ensuring that harmony prevails between the concerned parties. It also states out expressly some other relevant information such as the place where the property s situated, the name of the tenant, land lord, length of the rental agreement and many more. The rent agreement form also provides the procedures that can be followed by one party if he or she desires to cancel the tenancy. This will ensure that everybody understands the effects that every action taken will have so that unnecessary friction id not generated at a later date. The terms of tenancy may be varied according to the express or implied provisions of the agreement in the rental agreement form. It also spells out when the rent is payable and the possible repercussions that may be suffered in case of breach of such conditions. Some responsibilities such as the one of paying water and electricity is laid down there in hence. The rental agreements form is so comprehensive that it goes further to define how much is acceptable when it comes to the use of water and electricity by your visiting guests especially if the cost of such services are shared with the landlord. Summary: A room rental agreement form is a very important document that defines the roles, duties, responsibilities, rights and obligations of...
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