Within the 10-year period immediately preceding the application for registration, has Ledgers been convicted of a misdemeanor charge?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
With the exception of what is stated above, the following applies to the franchisor, its predecessor, a person identified in Item 2, or an affiliate offering franchises under the franchisor's principal trademark:
- C. No such party has been convicted of a felony or pleaded nolo contendere to a felony charge or, within the 10-year period immediately preceding the application for registration, has been convicted of or pleaded nolo contendere to a misdemeanor charge or has been the subject of a civil action alleging: violation of a franchise, antifraud, or securities law; fraud; embezzlement; fraudulent conversion or misappropriation of property; or unfair or deceptive practices or comparable allegations.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, Item 22 references an addition to Item 3 regarding legal actions. Specifically, it states that with the exception of what is stated above, the following applies to Ledgers, its predecessor, a person identified in Item 2, or an affiliate offering franchises under Ledgers' principal trademark.
The disclosure indicates that no such party has been convicted of a felony or pleaded nolo contendere to a felony charge. Furthermore, within the 10-year period immediately preceding the application for registration, no such party has been convicted of or pleaded nolo contendere to a misdemeanor charge. Additionally, no such party has been the subject of a civil action alleging violation of a franchise, antifraud, or securities law; fraud; embezzlement; fraudulent conversion or misappropriation of property; or unfair or deceptive practices or comparable allegations.
This statement provides assurance to potential franchisees that Ledgers and its related parties have not faced relevant legal issues in the recent past. This is a standard disclosure in franchise agreements, allowing prospective franchisees to assess the legal and ethical standing of the franchisor.