Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Orlando, the owner of the Street Foods R Us franchise, was interested in the possibility of setting up business in a food truck park with
Orlando, the owner of the Street Foods R Us franchise, was interested in the possibility of setting up business in a food truck park with Simon as a part of a franchise agreement. Orlando would be the franchisor, and Simon would be the franchisee. Orlando would supply Simon with the use of his nationally known trademarks as well has his expertise. Orlando wanted to be certain that Simon was serious, so he asked Simon to secure a land lease and $20,000 for start-up costs. The $20,000 was to be paid to Orlando. Simon withdrew $10,000 of his savings to secure a multi-year land lease and took out a $20,000 mortgage on his home to cover the franchise start-up costs. When Orlando mentioned that they needed lighting for nighttime vending, Simon contracted with an electrician service to install commercial-grade outdoor lighting fixtures throughout the property. The electrician's bill totaled $8,000. breach of contract Despite numerous phone calls, Simon did not hear from Orlando again until a month later, when Orlando advised Simon that the leased land was not to his liking and that the franchise start-up costs would be $45,000 instead of $20,000 re to search Orlando, the owner of the Street Foods R Us franchise, was interested in the possibility of setting up business in a food truck park with Simon as a part of a franchise agreement. Orlando would be the franchisor, and Simon would be the franchisee. Orlando would supply Simon with the use of his nationally known trademarks as well has his expertise. Orlando wanted to be certain that Simon was serious, so he asked Simon to secure a land lease and $20,000 for start-up costs. The $20,000 was to be paid to Orlando. Simon withdrew $10,000 of his savings to secure a multi-year land lease and took out a $20,000 mortgage on his home to cover the franchise start-up costs. When Orlando mentioned that they needed lighting for nighttime vending, Simon contracted with an electrician service to install commercial-grade outdoor lighting fixtures throughout the property. The electrician's bill totaled $8,000. breach of contract Despite numerous phone calls, Simon did not hear from Orlando again until a month later, when Orlando advised Simon that the leased land was not to his liking and that the franchise start-up costs would be $45,000 instead of $20,000 re to search
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started