What federal agency requires that the seller of a franchise give the potential buyer Franchise Disclosure...

What federal agency requires that the seller of a franchise give the potential buyer Franchise Disclosure Document (FDD) and audited financial statements?

a. The Franchise Sales Commission (FSC)

b. The Securities and Exchange Commission (SEC)

c. The Interstate Commerce Commission (ICC)

d. The Federal Trade Commission (FTC)

Expert Solution

d. The Federal Trade Commission (FTC)

In 1978, the Federal Trade commission formulated this particular rule based on which franchisors need to prepare a Franchise Disclosure document based on annual data and this needs to be provided to potential buyers atleast before 14 days of a sale.

keosha answered 2 years ago

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