Discover > Answered Question
![]() |
Is it fraud if the franchisor lied to the franchisee about the turnover figures
|
I bought a business and was supplied with projected turnover figures.
During the process of getting the loan, the business was opened by the franchisor and it ran for six months. The franchisor still stated that the projected values were in accordance with the turnovers that were getting with the months they were running the business. It was only once i took over the business, did i come across financials which stated otherwise. The business closed after three months of running by me, because it was failing. I need to know what can i do to get my money back and what rights do i have.
During the process of getting the loan, the business was opened by the franchisor and it ran for six months. The franchisor still stated that the projected values were in accordance with the turnovers that were getting with the months they were running the business. It was only once i took over the business, did i come across financials which stated otherwise. The business closed after three months of running by me, because it was failing. I need to know what can i do to get my money back and what rights do i have.
No Clarification Requests
Answer
|
User Rating:
![]() ![]() ![]() ![]()
Answer Compliments:
0
|
Welcome!
Thank you for your interest in our site. We do appreciate you bringing your question here for answer.
I am not a lawyer. Because every situation and circumstance is unique, the answer to YOUR question may require a different answer or explanation than what is given here. You should always consult a Business Lawyer who specia...
Thank you for your interest in our site. We do appreciate you bringing your question here for answer.
I am not a lawyer. Because every situation and circumstance is unique, the answer to YOUR question may require a different answer or explanation than what is given here. You should always consult a Business Lawyer who specia...
Answer Date: 08:35pm 08/25/08









