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Identifying ‘material facts’ is important to franchisors and franchisees because all material facts are required under the Arthur Wishart Act (Franchise Disclosure), 2000 (and similar franchise legislation in other Canadian provinces) to be fully disclosed in the Franchise Disclosure Document. Failure to disclose all material facts entitles a franchisee to a rescission (cancellation) of the franchise purchase, and to claim against the franchisor very significant damages.
In Re Maynes, 2013 CanLII 62252 (CA MFDAC), a disciplinary hearing by the Mutual Fund Dealers Association of Canada (“MFDA”), released on...
The post termination covenants in the franchise agreement are key factors in a franchisor’s overall termination analysis.