Separate the pre-sale waiting period from a cooling-off refund
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Record the date the disclosure was furnished and the date of signing or payment, and copy any contractual rescission clause with its page. Do not calculate a refund.
- What the lawyer must review
- Section 436.2 requires the franchisor to furnish the current disclosure document at least 14 calendar days before the prospective franchisee signs a binding agreement or makes a payment to the franchisor or an affiliate. That is a pre-sale timing rule. Part 436 as opened does not give a general post-signing cooling-off right or a statutory refund. The lawyer decides whether the contract itself allows rescission and computes any amount. Do not use a door-to-door rule. None was opened.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes preparing preliminary structure or wording and assembling provisional schedules. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Trace every relied-on figure to its source, confirm dates and assumptions, and independently recalculate totals or derived amounts.
- Review operative clauses in the complete document, including definitions, cross-references, schedules and inconsistencies with the instructions.
- Verify the applicable jurisdiction and the version of each relevant law, rule or instrument in force at the material time.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.
Related tasks
Draft or review a franchise disclosure document against the prescribed headingsCheck the franchisor's disclosure and any registration the jurisdiction requiresDraft or review a franchise agreement from the disclosure and the term sheetBuild a franchisee due-diligence issues list from the disclosure pack