By Dybo V
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Extra info for Balto-Slavic Accentology and Winter's Law
If the franchisor arranges the insurance, evidence of payment of premiums should be provided. You may wish to increase minimum levels of insurance and the agreement should give you this right. If the proposed franchise is for a retail outlet, you may be required to decorate and outfit the premises in a particular way. You will normally be responsible for paying the rent and other expenses such as council and water rates. The agreement will normally provide for initial and ongoing training, both for you and your staff.
A director must not exercise their power for personal advantage. As well as adhering to this all-encompassing duty, a director must exercise the degree of skill that may reasonably be expected from a person of their knowledge and experience. This degree of skill varies from situation to situation, and will be judged according to the circumstances. YOUR BUSINESS AND THE LAW 32 A director must act diligently. This means that they must ensure that they know enough about the business of the company to perform duties in the normal way.
The advantage of continuity in a company is that all dealings, contracts and so on remain operative, regardless of ownership of the company. If one owner dies or the business is sold, the company and all its dealings remain intact; all that has happened is that the ownership has changed. THE COST OF A COMPANY The cost of setting up a company consists of incorporation fees charged by the ASC and any legal fees, which will usually total about $1000. Recurrent annual costs mostly relate to financial records.
Balto-Slavic Accentology and Winter's Law by Dybo V