As a Franchise Attorney I agree it depends on what is specified in the bill of sale. It also depends on the extent of deviation from performance reasonably expected under the circumstances. Unless repossession is called for in the bill of sale, with a security interest reserved by the seller, you can't repossess. You'd need to go to court, get a monetary judgment in your favor, then execute on the judgment. Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
As a Franchise Attorney I agree it depends on what is specified in the bill of sale. It also depends on the extent of deviation from performance reasonably expected under the circumstances. Unless repossession is called for in the bill of sale, with a security interest reserved by the seller, you can't repossess. You'd need to go to court, get a monetary judgment in your favor, then execute on the judgment. Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
