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LiudmylaSupynska/iStock/Getty Images. In its broadest sense, a franchise agreement is a legally binding contract between a franchise organization and a franchisee. The agreement specifies the rights and obligations of each party, as well as what activities are prohibited.
and may be cited as the âCondominium Act.â History.âs. 1, ch. 76-222. 718.102 Purposes.âThe purpose of this chapter is: (1) Togivestatutoryrecognitiontothecondominium form of ownership of real property. (2) To establish procedures for the creation, sale, and operation of condominiums. Every condominium created and existing in this state