Can the Ledgers Franchise Agreement be executed in counterparts?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
10.9. Counterparts
This Agreement may be executed by the parties in this Agreement in separate counterparts, each of which when so executed and delivered will be an original, but all such counterparts will together constitute but one and the same instrument. The Agreement may be signed and delivered electronically via email, facsimile or other means, which will each have the same legal effect as if signed in hardcopy with traditional ink.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to the 2025 Ledgers Franchise Disclosure Document, the Franchise Agreement can be executed in counterparts. This means that the agreement does not need to be signed on one single document.
The Ledgers Franchise Agreement can be signed in separate counterparts, which are considered original documents. All of these counterparts together form a single agreement. This allows for flexibility in the signing process, especially when the parties are in different locations.
Furthermore, the agreement can be signed and delivered electronically via email, facsimile, or other means. These electronic signatures have the same legal effect as a hardcopy signature with traditional ink. This facilitates a faster and more efficient execution process, reducing the need for physical document exchange.