When is an offer or sale deemed made in New York for a Bang Cookies franchise?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
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- There are circumstances in which an offering made by Bang Cookies Franchise LLC would not fall within the scope of the New York General Business Law, Article 33, such as when the offer and acceptance occurred outside the State of New York. However, an offer or sale is deemed made in New York if you are domiciled in New York or the Outlet will be opening in New York. Bang Cookies Franchise LLC is required to furnish a New York prospectus to every prospective franchisee who is protected under the New York General Business Law, Article 33.
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies' 2024 Franchise Disclosure Document, an offer or sale of a Bang Cookies franchise is considered to have occurred in New York if the prospective franchisee is domiciled in New York or if the Bang Cookies outlet will be located in New York. This means that if a person lives in New York or intends to open a Bang Cookies franchise within the state, the offer and sale are subject to New York's General Business Law, Article 33.
This also means that Bang Cookies Franchise LLC is obligated to provide a New York prospectus to any potential franchisee who is protected under the New York General Business Law, Article 33. The prospectus contains important information about the franchise opportunity, including fees, obligations, and legal rights.
It's important to note that there are circumstances where an offering made by Bang Cookies Franchise LLC might not fall under the scope of the New York General Business Law, Article 33, such as when the offer and acceptance take place outside of New York State. However, the key factor determining whether New York law applies is the franchisee's domicile or the location of the Bang Cookies outlet.