Question

An arrangement of a continuing commercial relationship for the right to operate a business pursuant to the franchisor's trade name or to sell the seller's branded goods is a(n):

Answer 1

Those who receive a franchise are referred to as franchisees.

Sale of a franchise

A franchise can be sold if a person agrees to buy, license, or otherwise acquire a franchise from a franchise seller. Unless the new agreement has terms and conditions that fundamentally change from the original agreement, it excludes extending or renewing an existing franchise agreement where there has been no interruption in the franchisee's operation of the business. Additionally, it excludes situations in which a current franchisee transfers a franchise to a new franchisee without the franchisor having any meaningful participation. The mere acceptance or rejection of a transfer by a franchisor is not regarded as significant engagement.

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