Description
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- Summary:
- Provide a short two-to-three-paragraph overview of the paper which summarizes the conclusions drawn with respect to the potential success of the contract for the parties.
- Critical Assessment:
- Identify the fundamental components of the agreement and why each component is necessary to the success of a franchise contract.
Identify suggested corrections to the agreement and why they would be necessary to the success of the contract.
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Explanation & Answer
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Attached.
Running head: FRANCHISE AGREEMENT ANALYSIS
Franchise Agreement Analysis
Institution Affiliation
Instructor’s Name
Student’s Name
Course Code
Date
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FRANCHISE AGREEMENT ANALYSIS
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FRANCHISE AGREEMENT ANALYSIS
Summary
A franchisee refers to an agent of a company( franchisor) that own the principal
company, trademark, and product but it gives another company (franchisee) the right to run the
franchise location in return for an agreed-upon fee. A franchise agreement refers to the contract
between the two parties. In most cases, the issues that support the case of whether a franchise
agreement will stand is the possibility of fairness in the agreements. In the case there is no
fairness in the contract being signed, and then the contracts are deemed unsuccessful (Goodwin,
2000). In this case, the franchise agreements seem to favor the franchisor more than the
franchisee this, therefore, might make the franchisee tend to shy away from the contract
following that the fact that terms do not favor them.
For any contracts to be the success, in addition, both parties should not breach the
contract that they have signed. In most cases, the franchisee tends to bleach the agreement, and
this has consequences thereof following the bleach of the contract. Therefore, the basic
components of the agreement have to have adhered to the letter. These components include; two
or more parties, this is the franchisee and the franchisor. Legal requirement, the binding through
the signing of the contract and meeting the government requirement. Consideration, the
franchisee should pay a given amount in return for the right to trade using the company’s brand
name and logo. Consequences in case of bleach, an agreement should always set down way
forward that the party should ...