Two integral provisions of the New York Franchise Act came under judicial scrutiny of late: the penalties to be imposed upon a franchisor which fails to furnish disclosure to a franchisee within the time prescribed by the act and when the act’s “isolated franchise sales” exemption from registration may be invoked.
Penalties for Late Disclosure
Cases in the past two years address what judicially countenanced damages, if any, may arise from a franchisor’s failure to register and/or furnish a franchise disclosure document to a prospective franchisee within the time frame mandated by the New York Franchise Act. (This is not a complete failure to disclose, just late disclosure.)
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