Legal Question in Business Law in Tennessee

Franchise agreement issues
I am involved in a situation where I broke some rules of the franchise agreement I'm in with a certain company. I was told to stop doing what I was doing and I did thinking that the issue was closed. I really didn't think They would start the action of taking back my store. I only have owned this store for 15 mo and still owe 120,000 plus dolars to banks. I'm yet to discuss this with them but feel they are going to take it back and leave me to pay this money back with no means to do so, since they are taking my only source of income and have not given me any amount of time to find something else. If they don't give me what I owe I will more than likley be forced to file banckrupcy. Which would ruin any chance I have at getting financing in the future. It would ruin my life. I know I did something questionable but don't feel I deserve to have my life destroyed over it. Just want to know can they do this to me and do I have any recourse against them if I can't recover finacially?

MJ

Asked on 10/15/06, 1:05 pm

Robin Gordon Gordon Law Group, PLC

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Re: Franchise agreement issues

The question you have is largely a contract question that would require an attorney to review your franchise agremeent.

Answered on 10/16/06, 11:25 am

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