In the Gokhale Method franchise agreement, what title should be entered for the signatory of the business entity?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 Gokhale Method Franchise Disclosure Document, the signature line in the franchise agreement provides a space for the title of the person signing on behalf of the franchisee, if the franchisee is a business entity. The agreement includes a signature section for both entity franchisees and individual franchisees.
Specifically, the document includes the following signature blocks: 'FRANCHISEE [IF ENTITY] Title:' and 'FRANCHISEE [IF INDIVIDUAL[S]].' This indicates that if the Gokhale Method franchise is being acquired by a corporation, LLC, or other business entity, the person signing the agreement should enter their official title within that entity (e.g., President, CEO, Manager, etc.).
This is a standard practice in franchising, as it clarifies who has the authority to bind the business entity to the terms of the franchise agreement. It ensures that the Gokhale Method is contracting with a person who has the legal power to make decisions and commitments on behalf of the franchisee business.