New Jersey Franchise Practices Act survives constitutional challenge
Article Abstract:
The Third Circuit reversed a lower court decision in Instructional Systems, Inc v. Computer Curriculum Corp, ruling that the New Jersey Franchise Practices Act did not violate the constitution by being in some cases applicable to out of state commerce. A distribution contract between a franchisor and supplier had a California choice-of-law provision, which one party tried to use to circumvent the New Jersey law. The Third Circuit held that the New Jersey law was fair and that the case fell under its jurisdiction.
Publication Name: Franchise Law Journal
Subject: Law
ISSN: 8756-7962
Year: 1995
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Financial statement requirements for state franchise registrations
Article Abstract:
The New Uniform Franchise Offering Circular Guidelines specify that franchisors are required to file three kinds of financial statements: two different kinds of balance sheets and statements of shareholders equity, operation and cash flow for the three fiscal years before the date of application. The extent to which the state franchise examiners look at these financial statements varies and is gone over with respect to 15 states. Most states use a 'totality of the circumstances' test.
Publication Name: Franchise Law Journal
Subject: Law
ISSN: 8756-7962
Year: 1995
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Task force recommends self-regulation of franchising in Australia
Article Abstract:
The Australian Franchising Task Force has recommended that franchise operations be self-regulating. The task force has compiled a Code of Practice which includes provisions for defining franchise operations, administering the Code, establishing conditions of compliance and penalties for non-compliance. National legislation is not advised by the report and it appears that many of the task force's suggestions are already being applied by franchisors.
Publication Name: Franchise Law Journal
Subject: Law
ISSN: 8756-7962
Year: 1992
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