What law governs the loan note for a Beverly Anns Cookie franchise?

The 2025 Beverly Anns Cookie Franchise Disclosure Document includes a sample promissory note from Eagle Financial Services, Inc. for financing a franchise. The document does not specify which state's laws govern the promissory note.

However, the FDD does state that agreements related to the transfer of a franchise are governed by Kentucky law. Specifically, the Asset Purchase Agreement states that it "shall be governed by, and construed and enforced in accordance with, the laws of the State of Kentucky."

Because the FDD does not specify which state law governs the promissory note, prospective Beverly Anns Cookie franchisees should confirm with the franchisor and Eagle Financial Services, Inc. which jurisdiction's laws apply to the loan agreement. Understanding the governing law is essential for resolving potential disputes or interpreting the terms of the loan.