Charles Modell, a deservedly-so prominent franchisor lawyer, in his guest column in the September issue of Franchise Times, correctly opined that a thoroughly prepared financial performance representation is a pivotal piece. A carefully prepared Item 19, which has a reasonable basis and full and fair disclosure of the material facts and assumptions underlying it, is key information that a prospective franchisee seeks to obtain and can help a franchisor lawfully sell franchises.
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