Important Legal Considerations When Terminating A Franchise Agreement In New York

The termination or cancellation of a franchise relationship requires planning, a thorough understanding of your particular franchise agreement and, in certain instances procedural steps that must be followed. Preparation begin before signing a franchise agreement. Before signing, a would-be franchisee should reconsider the written terms outlining your right to terminate the franchise agreement. Typically, a franchisor will lay out several conditions it would consider to be breaches of the agreement that trigger termination if committed. These conditions will not afford an opportunity for either party to cure or correct the condition. Thus, when you and your attorney review that section dealing with termination‚ you should both identify these circumstances. Additionally, you and your attorney should identify conditions that may result in termination unless you cure them. These conditions typically include a clear time period to cure and correct that would avoid termination. Examples of triggering events that may or may

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