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Balance Of Power, Certainty And Discretion In The Franchise Relationship: An Analysis Of Contractual Terms, Elizabeth Crawford Spencer
Balance Of Power, Certainty And Discretion In The Franchise Relationship: An Analysis Of Contractual Terms, Elizabeth Crawford Spencer
Elizabeth Crawford Spencer
Executive Summary: Balance of power is a factor in considerations of fairness in the formation of contracts and in Australia is an express factor in determining unconscionability in contract formation and performance. Certainty is essential to business confidence that underpins planning and investment. Certainty is also a factor in evaluating what parties have agreed to in making the contract. Discretion, if it is too wide, may no longer represent the true intentions of the parties, but may instead be an indication of other forces, including asymmetries in the power relationship. These issues are of particularly significance in franchising; redressing imbalance …
Effective Disclosure In The Regulation Of Franchising, Elizabeth Crawford Spencer
Effective Disclosure In The Regulation Of Franchising, Elizabeth Crawford Spencer
Elizabeth Crawford Spencer
Executive Summary: This paper outlines the use of disclosure in the regulation of the franchise sector in Australia, demonstrating that it does not meet conditions considered necessary for effective informational regulation. First, there is not enough reliable information to gauge the risks in informing the design of regulatory process and the choice of tools; second, the information in the disclosure document is not uniformly reliable, accessible and useable; and, third, a franchisee’s ability to act on the information is limited because the franchise contract is not subject to negotiation and there are limited alternatives in the market. As potential solutions, …