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I own a franchise with two areas with two separate contracts. now I have signed the first contract in 2010 and brought and paid for the second area in 2011. I received but never signed the second contract. Ive been asked to sign it after 4 years but want to sell and leave should I sign it.
10 years which a 10 year option
it prevents me from leaving as they could claim lost revenue but I can sell the business but they have final approval.
It would also attempt to prevent me working independently in the area. Also it would allow them to breach my contract for whatever reason they had.
Could I claim my money back from them as I have not sign the contract and they haven't either?
I received the contract via post but nothing verbally. however I did sign a similar contract in 2010
yes would have been pretty much the same contract maybe some variations.
Yes the first contract lock me in for ten years
I'm not sure what they think they are achieving by doing this. If you saw the original contract then you are bound by that and making you sign a fresh contract won't change that. I suppose they might argue it is evidence though.
I'm not sure what you get out of agreeing to this. I am concerned that the purported lock in period is longer under the second contract potentially depending on the ostensible start date.
If it makes no changes at all then it doesn't really matter whether you sign or not but I would not recommend it in case it does.
Can I clarify anything for you?