Is a promissory note used in the acquisition of a Triple Pizza franchise?
Ontario, Canada
The following excerpt is from Tupperware Canada Inc. v. 1196815 Ontario Limited, 2008 CanLII 5118 (ON SC):
Tupperware distinguishes this case on the basis that the promissory note in 1368741 v. Triple Pizza was part of the acquisition of the franchise in respect of which the court found there to be a lack of disclosure. However, the Ellisons argue that the promissory note they entered into was in consideration for entering into a new franchise agreement in July 2002.
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